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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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Huhtamaki PPL gets NCLT approval for scheme of arrangement
Feb 22,2017

Huhtamaki PPL announced that the Honble Mumbai Bench of National Company Law Tribunal (NCLT) at its hearing held on 22 February 2017, sanctioned the Scheme of Arrangement of Positive Packaging Industries and Webtech Labels with Huhtamaki PPL, and their respective shareholders and creditors.

Further, on receipt of the Certified True copy of the NCLT Orders, the same will be filed with the Registrar of Companies and the Scheme/Merger would become effective on such filing.

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Asia Pacific Market: Stocks gain on positive offshore cues
Feb 22,2017

Asia Pacific share market mostly higher on Wednesday, 22 February 2017, as sentiments were lifted by record-setting US markets overnight. However, gains on the regional benchmark indices were muted as investors await policy details from the Trump administration on tax reforms and deregulation. MSCIs broadest index of Asia-Pacific shares outside Japan rose 0.5%.

The Dow Jones industrial average hit a record closing high for the eighth consecutive session in New York on Tuesday, after a three-day weekend, on the back of strong results by Wal-Mart and Home Depot.Financial markets are waiting on the Feds Jan. 31-Feb. 1 policy meeting minutes due later in the day for fresh hints on the central banks stance towards interest rates. Many market players agreed that the minutes will reveal no major differences from Fed Chair Janet Yellens recent congressional testimony.

In commodities, crude extended gains from the previous day when it touched 1-1/2-month peaks on OPECs optimism for greater compliance with its deal with other producers including Russia to curb output. Brent crude rose 0.5% to $56.92 a barrel and U.S. crude added 0.4% to $54.53 a barrel.

Among Asian bourses

Australia Market ends up

Australian equity market ended higher in choppy trade, as gains in the Consumer Staples, Healthcare and Industrials sectors led shares higher. At the close, the benchmark S&P/ASX 200 index added 14.10 points, or 0.24%, of 5,805.10, while the broader All Ordinaries index rose 14.70 points, or 0.25%, to 5,850.10.

The big four banks were mostly higher. ANZ Banking, Westpac and National Australia Bank were higher in a range of 0.5% to 0.7%, while Commonwealth Bank was down 0.3% as its shares traded ex-dividend.

Fortescue Metals posted a sharp increase in profit for the first half of the year, reflecting a rebound in iron ore prices and lower interest costs. However, shares of the miner, which also said it will more than triple its interim dividend payment, was down 2.7%.

Investors were unimpressed with BHP Billiton after the worlds biggest miner reported, at the close of market yesterday, that it had bounced back to profitability in the six months to December, with a rebound in prices for iron ore, coal and petroleum contributing to a profit of $US3.2 billion ($A4.2 billion). Its shares were down 0.7%.

Woodside Petroleum closed 0.1% up after the company said its full-year profit surged from last year, when results were weighed down by large writedowns. The energy giant announced its full-year profit had skyrocketed to $US868 million ($A1.1 billion), from $US26 million a year earlier. The company also raised its final dividend.

Woolworths shares inclined 4.4% after the company reported a turnaround to profit in the first half and expects to complete the review of its BIG W strategy in the next few months.

Fairfax Media shares were up 8% after news that the media group is aiming to boost shareholder returns by spinning off Domain into a separate ASX-listed business.

Blackmores recorded a 41% fall in first-half profit due to a slump in Australian vitamin sales. The vitamins and nutritional supplements makers shares were losing more than 9%.

Vocus Groups shares gained 7% after the telecom operator reported a 95% surge in first-half net profit on a five-fold jump in revenue.

Nikkei ends flat

The Japan share market settled marginally down, as risk sentiments weighed down by the yens strength against greenback, uncertainty over European politics--and especially the French presidential election, and on caution ahead of the minutes of the U.S. Federal Reserves latest meeting for clues for interest rate hikes. The 225-issue Nikkei average edged down 1.57 points, or 0.01%, to finish at 19,379.87. On the other hand, the Topix index of all first-section issues closed up 1.49 points, or 0.10%, at 1,557.09.

Financials were lower as uncertainty over European politics--and especially the French presidential election--pushed haven assets like government bonds. Lower government bond yields decrease financial firms profit margins. Nomura Holdings Inc. lost 0.7% to 750.0 yen. Major insurer Sompo Holdings Inc. fell 0.5% to Y4,350.

Steel stocks were among the best performers. JFE Holdings Inc. rose 3.0% to Y2,228.0. Nippon Steel & Sumitomo Metal Corp. gained 1.8% to Y2,871.5.

Among other individual stocks, e-commerce company Rakuten Inc. rose 9.4% to Y1,129.5 after the company announced a share repurchase program. Rakuten said it will buy back 8.4% of total shares outstanding, excluding treasury stock, for a maximum acquisition value of 100 billion yen. Shares have trended lower since Feb. 13, when the company posted a 15% profit decrease for 2016.

Toshiba Corp. rose 22% to Y224.7 following a Nikkei business daily report that the company has asked potential bidders for its memory-chip business to value the asset at a minimum Y2 trillion yen ($17.6 billion). The firm on Tuesday said it has completed the 31.4 billion yen sale of its medical finance unit to copier and camera maker Canon.

China Stocks close near 3-month peak

Mainland China stock market rose for a third straight day to approach three-month highs, as risk sentiments boosted by reports that wealth management products (WMPs) might be allowed to invest in the stock market directly after a united regulation system covering WMPs was proposed. Most sectors were largely unchanged, with gains were led by material and consumer shares. At the close, the blue-chip CSI 300 index inched up 0.2% to 3,489.76 points. The benchmark Shanghai Composite Index added 0.24% to 3,261.22 points, while the Shenzhen Component Index finished 0.37% higher at 10,444.38 points. The ChiNext, the countrys NASDAQ equivalent, slipped 0.06% to 1,919.97 points.

Shares in Jiangsu Wujiang Rural Commercial Bank tumbled 9.1%, the biggest one-day loss since it was listed in late November 2016.

Real estate stocks barely moved after data showed home price growth slowed for the fourth straight month as demand cooled further in Chinas biggest cities.

On the currency news front- The Chinese currency renminbi, or yuan, was slightly up against the U.S. dollar even after the Peoples Bank of China set the fixing rate weaker for a third consecutive day. The PBOC set the yuan central parity at 6.8830, compared with 6.8790 on Tuesday. The yuan was last at 6.8795 against the U.S. unit, compared with the official closing price of 6.8826 on Tuesday.

Hong Kong Stocks ends near 18-1/2-month high

The Hong Kong stock market closed near 18 and a half months high, as sentiments were lifted by record-setting US markets overnight, firmer domestic economic growth outlook, and stronger inflows from the mainland. The benchmark Hang Seng index went up 0.99% to 24,201.96 points. Hong Kong China Enterprises Index gained 1.2% to 10,537.58. Turnover increased to HK$92.5 billion from HK$87.7 billion on Tuesday.

Market sentiments were lifted on news that Hong Kong granted out billions in tax cuts & poverty relief on Wednesday, to encourage its economy that is expected to grow more strongly than expected at 2-3% this year.

Shares of Chinese developers listed in Hong Kong were higher. According to Chinas latest data, property price growth of newly built commodity housing in 70 major cities for January showed a slowdown. CR Land (01109) put on 5% to HK$22. China Overseas (00688) climbed 3.6% to HK$24.45. New World (00017) added 3.5% to HK$9.78 after the developer reported 2016 interim earnings grew 31% to HK$4.34 billion.

Kunlun Energy (00135) issued profit warning. The stock gained 1.3% to HK$6.87. CCB (00939) shot up 2.4% to HK$6.45, boosted by news that overall NPLs dropped for mainland commercial banks. ICBC (01398) also added 2.2% to HK$5.18.

Sensex, Nifty hit more than five-month closing high

A surge in index heavyweight Reliance Industries (RIL) and positive global stocks helped key benchmark indices register modest gains today. The barometer index, the S&P BSE Sensex, rose 103.12 points or 0.36% to settle at 28,864.71. The Nifty 50 index rose 19.05 points or 0.21% to settle at 8,926.90.

Index heavyweight Reliance Industries (RIL) surged 10.97% to Rs 1,207.65 as investors anticipated revenue generation for its telecom venture Jio starting from 1 April 2017. The company said that its subsidiary Reliance Jio Infocomm (RJIL) has breached the 100 million customer mark in 170 days. Jio announced that in addition to its own market leading tariff plans, it will also offer its customers the option to choose the highest selling tariff plan of any of the other leading Indian telecom operators, but with 20% more data than what any other operator provides. The announcement was made at the fag end of market hours yesterday, 21 February 2017.

Bharti Airtel declined 0.56%. The company announced that it has through its subsidiary Bharti Airtel Services, acquired a strategic stake in Seynse Technologies, a financial technology company for undisclosed sum. The announcement was made during market hours today, 22 February 2017. The investment was completed by the company. Turnover of Seynse as on 31 March 2016 was Rs 6.53 lakhs and had 41 employees.

Jindal Steel & Power rose 0.78%, with the stock extending recent rally. Shares of Jindal Steel & Power (JSPL) had risen 24.30% in five trading sessions to settle at Rs 109.45 yesterday, 21 February 2017, from its close of Rs 88.05 on 14 February 2017.

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Australia Market ends up
Feb 22,2017

Australian equity market ended higher in choppy trade on Wednesday, 22 February 2017, as gains in the Consumer Staples, Healthcare and Industrials sectors led shares higher. At the close, the benchmark S&P/ASX 200 index added 14.10 points, or 0.24%, of 5,805.10, while the broader All Ordinaries index rose 14.70 points, or 0.25%, to 5,850.10.

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Nikkei ends flat
Feb 22,2017

The Japan share market settled marginally down on Wednesday, 22 February 2017, as risk sentiments weighed down by the yens strength against greenback, uncertainty over European politics--and especially the French presidential election, and on caution ahead of the minutes of the U.S. Federal Reserves latest meeting for clues for interest rate hikes. The 225-issue Nikkei average edged down 1.57 points, or 0.01%, to finish at 19,379.87. The Topix index of all first-section issues closed up 1.49 points, or 0.10%, at 1,557.09.

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China Stocks close near 3-month peak
Feb 22,2017

Mainland China stock market rose for a third straight day to approach three-month highs on Wednesday, 22 February 2017, as risk sentiments boosted by reports that wealth management products (WMPs) might be allowed to invest in the stock market directly after a united regulation system covering WMPs was proposed. Most sectors were largely unchanged, with gains were led by material and consumer shares. At the close, the blue-chip CSI 300 index inched up 0.2% to 3,489.76 points. The benchmark Shanghai Composite Index added 0.24% to 3,261.22 points, while the Shenzhen Component Index finished 0.37% higher at 10,444.38 points. The ChiNext, the countrys NASDAQ equivalent, slipped 0.06% to 1,919.97 points.

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Hong Kong Stocks ends near 18-1/2-month high
Feb 22,2017

The Hong Kong stock market closed near 18 and a half months high on Wednesday, 22 February 2017, as sentiments were lifted by record-setting US markets overnight, firmer domestic economic growth outlook, and stronger inflows from the mainland. The benchmark Hang Seng index went up 0.99 percent to 24,201.96 points. Hong Kong China Enterprises Index gained 1.2% to 10,537.58. Turnover increased to HK$92.5 billion from HK$87.7 billion on Tuesday.

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Board of Baba Arts approves commencement of new business activity
Feb 22,2017

Baba Arts announced that the Board of Directors of the Company at its meeting held on 22 February 2017 has approved the commencement of new business of import, export, wholesale and retail trading of PVC resin, HDPE, LDPE, PP and all kinds of plastic raw materials and goods.

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Karnataka Bank wins two awards
Feb 22,2017

Karnataka Bank has bagged two IBA- Banking Technology Awards 2017 under the following categories -

Winner - Best Financial Inclusions Initiatives (Small Bank) category
Runner up - Best use of Digital and Channels Technology (Small Bank) category.

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Outcome of board meeting of Cyber Media (India)
Feb 22,2017

Cyber Media (India) announced that the Board of Directors of the Company at its meeting held on 22 February 2017 has approved the following -

Alteration in the terms of loan agreement entered with the Promoter and Promoters Group subject to approval of shareholders.

Issue of equity shares on preferential basis to Promoters and Promoters Group.

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Viaan Industries fixes record date for sub-division of shares
Feb 22,2017

Viaan Industries announced that the Company has fixed 10 March 2017 as the Record Date for the purpose of Sub-division of 1 (One) equity share of face value of Rs. 10/- each into 10 (Ten) equity shares of Re. 1/- each.

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Board of Richway International Trade approves delisting of shares from BSE Institutional Trading Platform
Feb 22,2017

The Board of Directors of Richway International Trade in its meeting held on 22 February 2017 has approved delisting of equity shares of the Company from BSE Institutional Trading Platform, subject to approval of shareholders.

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Rashtriya Chemicals & Fertilizers announces cessation of director
Feb 22,2017

Rashtriya Chemicals & Fertilizers announced that Prof. Damodar Acharya has ceased to be an Independent Director on the Board of the Company w.e.f. 30 January 2017 consequent upon the completion of his term.

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Huhtamaki PPL consolidated net profit declines 25.83% in the December 2016 quarter
Feb 22,2017

Net profit of Huhtamaki PPL declined 25.83% to Rs 15.25 crore in the quarter ended December 2016 as against Rs 20.56 crore during the previous quarter ended December 2015. Sales declined 0.66% to Rs 517.18 crore in the quarter ended December 2016 as against Rs 520.61 crore during the previous quarter ended December 2015.

For the full year,net profit rose 9.94% to Rs 84.58 crore in the year ended December 2016 as against Rs 76.93 crore during the previous year ended December 2015. Sales rose 7.18% to Rs 2154.10 crore in the year ended December 2016 as against Rs 2009.75 crore during the previous year ended December 2015.

ParticularsQuarter EndedYear Endedn++Dec. 2016Dec. 2015% Var.Dec. 2016Dec. 2015% Var. Sales517.18520.61 -1 2154.102009.75 7 OPM %10.2812.51 -11.4811.56 - PBDT50.1158.22 -14 231.12206.15 12 PBT28.3434.97 -19 140.14115.62 21 NP15.2520.56 -26 84.5876.93 10

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Anubhav Infrastructure reports standalone nil net profit/loss in the December 2016 quarter
Feb 22,2017

Anubhav Infrastructure reported no net profit/loss in the quarter ended December 2016 as against net loss of Rs 0.20 crore during the previous quarter ended December 2015. Sales declined 75.00% to Rs 0.01 crore in the quarter ended December 2016 as against Rs 0.04 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.010.04 -75 OPM %0-500.00 - PBDT0-0.20 100 PBT0-0.20 100 NP0-0.20 100

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AcroPetal Technologies reports standalone net loss of Rs 0.53 crore in the December 2016 quarter
Feb 22,2017

Net Loss of AcroPetal Technologies reported to Rs 0.53 crore in the quarter ended December 2016 as against net loss of Rs 6.06 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 as against Rs 0.45 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales00.45 -100 OPM %0-48.89 - PBDT-0.09-3.06 97 PBT-0.53-6.06 91 NP-0.53-6.06 91

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