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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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Midas Infra Trade to announce Quarterly Result
Aug 09,2017

Midas Infra Trade will hold a meeting of the Board of Directors of the Company on 12 August 2017.

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Atlanta Infrastructure & Finance to convene board meeting
Aug 09,2017

Atlanta Infrastructure & Finance will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Samrat Pharmachem to announce Quarterly Result
Aug 09,2017

Samrat Pharmachem will hold a meeting of the Board of Directors of the Company on 13 September 2017.

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Jainco Projects (India) announces board meeting date
Aug 09,2017

Jainco Projects (India) will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Thakkers Developers to convene board meeting
Aug 09,2017

Thakkers Developers will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Kisan Mouldings liquidates idle immovable asset worth Rs 14 cr
Aug 09,2017

Kisan Mouldings has liquidated idle immovable asset worth approx Rs.14 crore.

The Company has concluded deals in its II phase of its Asset Monetization Strategy

n++] For sale of its Roha (Maharashtra) Premises n++] Rs. 3.5 crore
n++] For sale of its Raipur (Chattisgarh) Premises n++] Rs. 4 crore
n++] For sale of a portion of Idle Land near its Tarapur Plant n++] Rs. 6.52 crore.

n++] All the above deals would fetch Company with overall liquidity of Rs 14 crore with a book profit of Rs. 5.81 crore.

In addition, idle assets of nearly Rs. 15 crore have also been identified for monetization, without impacting our current manufacturing capacities. The Company is confident to get the same also liquidated soon.

It is pertinent to note that the Company had liquidated commercial premises at Andheri East (Mah.) for Rs 3.01 crore in I phase as a part of its Asset Monetization Strategy, thereby, initiated debt reduction policies.

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Interlink Petroleum to table results
Aug 09,2017

Interlink Petroleum will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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SRF tumbles after weak Q1 results
Aug 09,2017

The result was announced after market hours yesterday, 9 August 2017.

Meanwhile, the S&P BSE Sensex was down 63.81 points, or 0.20% to 31,950.38.

On the BSE, 22,000 shares were traded in the counter so far, compared with average daily volumes of 14,751 shares in the past one quarter. The stock had hit a high of Rs 1,520 and a low of Rs 1,422.80 so far during the day. The stock hit a record high of Rs 1,969.50 on 5 October 2016. The stock hit a 52-week low of Rs 1,352.15 on 18 November 2016.

The stock had underperformed the market over the past one month till 8 August 2017, falling 0.12% compared with 0.94% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 13.03% as against Sensexs 5.84% rise. The scrip had also underperformed the market in past one year, falling 2.28% as against Sensexs 13.99% rise.

The mid-cap company has equity capital of Rs 57.42 crore. Face value per share is Rs 10.

SRF said that its Q1 net profit declined mainly on account of subdued commodity prices, channel destocking during the transition to the Goods and Services Tax (GST) regime and strengthened rupee.

In a separate announcement, SRF said that its board approved setting up a facility to produce specialty chemicals (P-33) for agro industry at the companys chemical complex in Dahej, Gujarat at an estimated cost of Rs 85 crore.

SRF is a chemical-based multi-business entity engaged in the manufacturing of industrial and specialty intermediates.

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My Money Securities schedules board meeting
Aug 09,2017

My Money Securities will hold a meeting of the Board of Directors of the Company on 14 August 2017, to consider and approve the Unaudited Financial Results for the 1st quarter ended on June 30, 2017.

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Electrotherm (India) announces board meeting date
Aug 09,2017

Electrotherm (India) will hold a meeting of the Board of Directors of the Company on 5 August 2017.

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Ramkrishna Forgings jumps after RBI hikes FPIs investment limit
Aug 09,2017

Meanwhile, the S&P BSE Sensex was down 102.83 points, or 0.32% to 31,911.36.

On the BSE, 892 shares were traded in the counter so far, compared with average daily volumes of 8,817 shares in the past one quarter. The stock had hit a high of Rs 569 and a low of Rs 554.75 so far during the day. The stock hit a 52-week high of Rs 583.15 on 2 August 2017. The stock hit a 52-week low of Rs 256.25 on 21 November 2016.

The stock had outperformed the market over the past one month till 8 August 2017, rising 6.87% compared with 0.94% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.21% as against Sensexs 5.84% rise. The scrip had also outperformed the market in past one year, rising 30.97% as against Sensexs 13.99% rise.

The small-cap company has equity capital of Rs 32.59 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) notified after market hours yesterday, 8 August 2017, that the foreign institutional investors (FIIs)/foreign portfolios investors (FPIs) investment limit under portfolio investment scheme in Ramkrishna Forgings has increased from 24% to 49% of its paid up capital.

Net profit of Ramkrishna Forgings rose 26.82% to Rs 14.09 crore on 27.74% rise in net sales to Rs 288.67 crore in Q4 March 2017 over Q4 March 2016.

Ramkrishna Forgings is a supplier of forged and rolled components for various sectors.

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Timken India drops after weak Q1 results
Aug 09,2017

The result was announced after market hours yesterday, 8 August 2017.

Meanwhile, the S&P BSE Sensex was down 109.21 points, or 0.34% at 31,904.98. The S&P BSE Mid-Cap index was down 80.08 points, or 0.52% at 15,333.07.

On the BSE, 600 shares were traded on the counter so far as against the average daily volumes of 10,398 shares in the past one quarter. The stock had hit a high of Rs 685 and a low of Rs 680 so far during the day. The stock had hit a record high of Rs 815.40 on 6 July 2017 and a 52-week low of Rs 515 on 21 November 2016.

The stock had underperformed the market over the past one month till 8 Aug 2017, declining 9.01% compared with the Sensexs 2.08% rise. The scrip had also underperformed the market over the past one quarter declining 5.19% as against the Sensexs 6.98% rise. The scrip had, however, outperformed the market over the past one year advancing 20.52% as against the Sensexs 13.6% rise.

The mid-cap company has equity capital of Rs 68 crore. Face value per share is Rs 10.

Timken India is engaged in the business of engineering and manufacturing bearings and mechanical power transmission components including gear drives, couplings, belts and chain.

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Deepak Nitrite declines after poor Q1 earnings
Aug 09,2017

The result was announced after market hours yesterday, 8 August 2017.

Meanwhile, the S&P BSE Sensex was down 114.86 points or 0.36% at 31,899.33. The S&P BSE Small-Cap index declined 106.19 points or 0.67% at 15,797.85.

On the BSE, 14,000 shares were traded on the counter so far as against the average daily volumes of 78,105 shares in the past one quarter. The stock had hit a high of Rs 160.40 and a low of Rs 151.75 so far during the day. The stock had hit a record high of Rs 194.80 on 6 July 2017 and a 52-week low of Rs 75.80 on 26 December 2016.

The stock had underperformed the market over the past one month till 8 August 2017, sliding 6.95% compared with the Sensexs 2.08% rise. The stock had, however outperformed the market over the past one quarter, gaining 16.76% as against the Sensexs 6.98% rise. The scrip had also outperformed the market over the past one year, advancing 55.54% as against the Sensexs 13.6% rise.

The small-cap company has equity capital of Rs 26.14 crore. Face value per share is Rs 2.

The companys profit after tax (PAT) excluding exceptional items grew by 32% to Rs 20.10 crore in Q1 June 2017 over Q1 June 2016.

Deepak Nitrite said that the outlook for the current financial year (FY 2018) is promising as it is pursuing growth across multiple segments and product lines. It has already made investments in the FSC segment, towards integration of existing products, for which it has received environmental clearance and is awaiting clearance from local authorities in order to commence operations; these projects are expected to strengthen overall performance of the FSC segment.

The company anticipates positive momentum in agrochemical intermediates on the back of favourable climatic conditions. Moreover, strategic initiatives to enhance process efficiencies and optimise costs, along with increase in proportion of high margin products will positively contribute to profitability.The company will commission its Phenol & Acetone project towards the end of FY 2018, opening up new frontiers of growth.

Deepak Nitrite is a multi-division and multi-product company. The companys portfolio is a wide spectrum of products with diverse applications ranging from agrochemicals, rubber, pharmaceuticals, paper, textile, detergent, colourants, and petrochemicals to speciality and fine chemicals.

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140 Research Projects on medicinal plants are being currently supported by NMPB: Shri Shripad Naik
Aug 09,2017

A number of research / studies on medicinal values of plants are being carried out by various government as well as private universities / research institutions/ organizations in India.

Presently, research projects on various aspects (viz. literary research, survey, identification, documentation, micropropagation, agrotechnology, drug standardization, pharmacological and clinical research etc.) of medicinal plants are being supported by different Ministries/Departments of Government of India (viz. Ministry of AYUSH, Ministry of Health & Family Welfare, Ministry of Environment, Forests & Climate Change, Ministry of Agriculture & Family Welfare, Department of Science and Technology, Department of Biotechnology etc.) under their concerned schemes / programmes.

Under the Ministry of AYUSH, different Research Councils viz. Central Council for Research in Ayurvedic Sciences (CCRAS), Central Council for Research in Unani Medicine (CCRUM), Central Council for Research in Homoeopathy (CCRH) and Central Council for Research in Siddha (CCRS) are engaged in research & development activities on medicinal plants used in concerned system of medicine. In addition, the National Medicinal Plants Board (NMPB), Ministry of AYUSH, under its Central Sector Scheme on n++Conservation, Development and Sustainable Management of Medicinal Plantsn++ is also supporting research & development projects on various aspects on medicinal plants to number of government as well as private universities / research institutions/ organizations across the country. At present more than 140 research projects, supported under NMPBs Central Sector Scheme on various aspects of medicinal plants, are ongoing in various universities/ research organizations in different states of the country.

Some of the premier research institutions/organizations doing research on medicinal value of plants are: Central Institute of Medicinal and Aromatic Plants (CIMAP)- Lucknow, Central Drug Research Institute (CDRI)- Lucknow, Indian Institute for Integrative Medicines (IIIM)- Jammu, Institute of Himalayan Bioresource Technology (IHBT)- Palampur, National Botanical Research Institute (NBRI)- Lucknow, North East Institute of Science and Technology (NEIST)- Jorhat under Council of Scientific and Industrial Research (CSIR); Directorate of Medicinal and Aromatic Plants Research (DMAPR)- Anand, Gujarat under Indian Council of Agricultural Research (ICAR); Indian Council of Forestry and Education (ICFRE)- Dehradun, and Indian Council of Medical Research (ICMR).

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Astral Poly Technik drops after weak Q1 results
Aug 09,2017

The result was announced after market hours yesterday, 8 August 2017.

Meanwhile, the S&P BSE Sensex was down 88.47 points or 0.28% at 31,925.72. The S&P BSE Mid-Cap index declined 107.31 points or 0.7% at 15,305.84.

On the BSE, 480 shares were traded on the counter so far as against the average daily volumes of 15,927 shares in the past one quarter. The stock had hit a high of Rs 642 and a low of Rs 635 so far during the day. The stock had hit a record high of Rs 728.75 on 20 June 2017 and a 52-week low of Rs 368 on 23 December 2016.

The stock had underperformed the market over the past one month till 8 August 2017, sliding 3.8% compared with the Sensexs 2.08% rise. The stock had, however, outperformed the market over the past one quarter, gaining 10.83% as against the Sensexs 6.98% rise. The scrip had also outperformed the market over the past one year, advancing 34.52% as against the Sensexs 13.6% rise.

The mid-cap company has equity capital of Rs 11.98 crore. Face value per share is Rs 1.

The companys consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) declined 7.31% to Rs 50.70 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin contracted to 12.45% in Q1 June 2017, from 13.03% in Q1 June 2016.

Astral Poly Technik is engaged in the production of plastic products. The company and its subsidiaries are engaged in the business of manufacturing and trading of pipes, fittings and adhesive solutions.

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