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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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Network fixes record date for reduction of share capital
Jun 02,2017

Network has fixed 12th June 2017 as the record date for the purpose of reduction of share capital of the Company.

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Outcome of board meeting of Koa Tools India
Jun 02,2017

The Board of Directors of Koa Tools India at the meeting held on 1 May 2017 have approved the appointment of Mr. Abhishek Joshi as a full-fledged director of the Company, convening and holding the Extraordinary General Meeting of the Company on 29th May 2017, and grant authority to Narayan Dutt Tiwari to verify and file all the documents and forms with the Registrar of Companies.

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Dwarikesh Sugar gets sweeter after board approves stock split
Jun 02,2017

The announcement was made during market hours today, 2 June 2017.

Meanwhile, the S&P BSE Sensex was up 140.16 points or 0.45% to 31,262.38. The S&P BSE Small-Cap index was up 83.16 points or 0.55% to 15,317.40.

On the BSE, 76,602 shares were traded in the counter so far as against average daily volume of 61,103 shares in the past one quarter. The stock had hit high of Rs 465.90 and low of Rs 444.60 so far during the trading session. The stock had hit a record high of Rs 503.50 on 21 April 2017. The stock had hit 52-week low of Rs 191.60 on 1 June 2016.

The stock has gained 6.82% in three sessions to its ruling price of Rs 453.40, from a close of Rs 424.45 on 30 May 2017.

The stock fell 5.78% over the past one month till 1 June 2017, underperforming the Sensexs 4.08% rise. The scrip had, however, outperformed the market in past one quarter, rising 9.95% as against Sensexs 7.43% rise. The scrip had also outperformed the market in past one year, jumping 120.26% as against Sensexs 16.56% rise.

The small-cap company has equity capital of Rs 18.83 crore. Face value per share is Rs 10.

Dwarikesh Sugar Industries net profit fell 11.4% to Rs 46.82 crore on 91.2% rise in net sales to Rs 440.37 crore in Q4 March 2017 over Q4 March 2016.

Dwarikesh Sugar Industries is an integrated conglomerate primarily engaged in manufacture of sugar and allied products. From a humble beginning in 1993, Dwarikesh now has a strong presence in diversified fields such as sugar manufacturing, power and ethanol/ industrial alcohol production.

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GMR Infrastructure leads gainers in A group
Jun 02,2017

GMR Infrastructure jumped 20.74% to Rs 18.05 at 14:07 IST. The stock topped the gainers in the BSEs A group. On the BSE, 2.12 crore shares were traded on the counter so far as against the average daily volumes of 15.97 lakh shares in the past two weeks.

GVK Power & Infrastructure surged 16.76% to Rs 6.06. The stock was the second biggest gainer in A group. On the BSE, 22.78 lakh shares were traded on the counter so far as against the average daily volumes of 6.09 lakh shares in the past two weeks.

Bayer CropScience gained 8.97% at Rs 4,968.10. The stock was the third biggest gainer in A group. On the BSE, 6,860 shares were traded on the counter so far as against the average daily volumes of 1,784 shares in the past two weeks.

Hindustan Construction Company advanced 7.53% at Rs 44.25. The stock was the fourth biggest gainer in A group. On the BSE, 33.58 lakh shares were traded on the counter so far as against the average daily volumes of 13.74 lakh shares in the past two weeks.

Jaiprakash Associates rose 5.09% to Rs 12.81. The stock was the fifth biggest gainer in A group. On the BSE, 66.68 lakh shares were traded on the counter so far as against the average daily volumes of 1.04 crore shares in the past two weeks.

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Somany Ceramics terminates JV agreement with Keraben Grupo S.A.
Jun 02,2017

Somany Ceramics announced that the Joint Venture Agreement with Keraben Grupo S.A. which was entered into in the year 2006 for the purpose of promotion, marketing, production and distribution of floor and ceramic tiles produced by SCL with technical know-how and/or technical assistance design from Keraben has been terminated with effect from 1st June 2017.

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Crompton Greaves Consumer Electricals spurts after bulk deal
Jun 02,2017

Meanwhile, the S&P BSE Sensex was up 140.64 points, or 0.45%, to 31,278.23

Bulk deal boosted volume on the scrip. On the BSE, so far 9.34 lakh shares were traded in the counter, compared with average daily volumes of 2.28 lakh shares in the past one quarter. The stock hit a high of Rs 246 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 234 so far during the day. The stock hit a 52-week low of Rs 130.05 on 8 June 2016.

The stock rose 7.38% over the past one month till 1 June 2017, outperforming the Sensexs 4.08% rise. The scrip also outperformed the market in past one quarter, rising 23.2% as against Sensexs 7.43% rise. The scrip had also outperformed the market in past one year, surging 67.94% as against Sensexs 16.56% rise.

The large-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.

Crompton Greaves Consumer Electricals net profit rose 29.77% to Rs 86.44 crore on 7.44% growth in net sales to Rs 1076.15 crore in Q4 March 2017 over Q4 March 2016.

Crompton Greaves Consumer Electricals manufactures and markets a wide spectrum of consumer products ranging from fans, light sources and luminaires, pumps and household appliances, such as geysers, mixer grinders, toasters and irons.

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Fitch: Retail & Distribution Space to Converge Due to E-Commerce
Jun 02,2017

The growth of e-commerce and the increasing emphasis on delivery speed as well as pick-up services for retail goods will likely precipitate a convergence of industrial distribution and retail real estate, according to Fitch Ratings.

Ongoing changes for retail real estate and industrial/distribution space have put the future role of shopping centers and lower-quality malls in question. E-commerce continues to take share from bricks and mortar retail, resulting in tenant and retail property softness. We believe well-located retail properties and REITs with portfolios centered on consumer demographics will see continued demand as delivery and pickup services and an increased focus on demographics gain momentum.

Retail real estate sites and e-commerce last mile distribution sites now essentially serve the same purpose - the distribution (or staging) of goods for sale to the end user. One has a delivery focus but without public access, the other has public access but without a delivery function. Retail centers that exhibit the best demographics, which include per capita income and population density, will be most easily repositioned and most capable of managing the secular shift in how goods are sold and purchased in the 21st century.

Owners of infill retail locations that can also function as delivery and pickup locations - retail distribution (or ReDi Facilities) - will likely be winners as this convergence accelerates. The need to distinguish between an attractive retail or last mile distribution site - zoning notwithstanding - will become less meaningful as the function of the real estate is the same: providing a way to distribute goods to customers. The old real estate axiom, Location, Location, Location applies, possibly now more than ever.

Community shopping center and regional mall values have historically been measured by their proximity to population density and the regions per capita income. While these measures will continue to determine the attractiveness of a site, last mile distribution and pickup purposes will also be considered in drawing consumer foot traffic and buying power.

In a rapidly changing retail world, lenders, investors and operators will have to refocus their attention to demographics. When it comes to last mile retail distribution, underwriting on location (based on consumer demographics) may take on as meaningful importance as in-place NOI.

With the advent of Uber and ride sharing and the eventual development of self-driving cars, some REITs are discussing what they can do with potential excess parking facilities. Depending on zoning and the configuration of a shopping center, using excess parking facilities or underutilized retail space to develop small scale last mile delivery and pickup distribution facilities may be an option.

If the alternative is an antiquated or failing center in a municipality, zoning authorities and their communities will eventually be compelled to consider zoning changes allowing small scale distribution facilities at current retail zoned sites or face the prospects of a blighted center, lost jobs and tax revenue. Fitch expects real estate owners will find ways to make mixed-use retail / distribution sites palatable for residents.

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NBCC gets stronger after successful e-auction of commercial space
Jun 02,2017

The announcement was made after market hours yesterday, 1 June 2017.

Meanwhile, the S&P BSE Sensex was up 132.79 points, or 0.43% to 31,270.38.

On the BSE, 69,525 shares were traded in the counter so far, compared with average daily volumes of 2.17 lakh shares in the past one quarter. The stock had hit a high of Rs 198.25 and a low of Rs 194.90 so far during the day. The stock had hit a record high of Rs 205.75 on 28 April 2017. The stock hit a 52-week low of Rs 117.67 on 24 June 2016.

The stock fell 3.4% over the past one month till 1 June 2017, underperforming the Sensexs 4.08% rise. The scrip had, however, outperformed the market in past one quarter, rising 16.62% as against Sensexs 7.43% rise. The scrip had outperformed the market in past one year, gaining 49% as against Sensexs 16.56% rise.

The large-cap company has equity capital of Rs 180 crore. Face value per share is Rs 2.

NBCC (India) said that it has successfully launched and e-auctioned upcoming commercial and office space in one tower having ten floors of 2.83 lakh square feet of super built up area at Nauroji Nagar, New Delhi which would inflow around Rs 1100 crore in stages as per agreement.

NBCC had been engaged as implementing and marketing agency for re-development of three general pool residential accommodation (GRPA) colonies, Nauroji Nagar, Netaji Nagar and Sarojini Nagar on self sustainable finance model.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 75% stake in the firm (as per shareholding pattern as on 31 March 2017).

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Outcome of board meeting of Dwarikesh Sugar Industries
Jun 02,2017

Dwarikesh Sugar Industries at the board meeting held on 02nd June 2017 approved the sub-division of face value of equity shares from Rs 10 each to Re 1 each, sub-division of Authorised share capital of the company from 2,25,00,000 equity shares of Rs 10 each into 22,50,00,000 equity shares of Re 1 each and consequently subdivision of Issued, Subscribed & Paid up capital of 1,88,30,147 Equity shares from Rs 10 each fully paid up into 18,83,01,470 Equity shares of Rs 1 each fully paid up and subsequent alteration of capital clause of Memorandum of Association of the company, approval for conducting postal ballot for the consideration of the same.

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GHCL to hold AGM
Jun 02,2017

GHCL announced that the 34th Annual General Meeting of the Company will be held on 29 June 2017.

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MT Educare drops on profit booking
Jun 02,2017

Meanwhile, the S&P BSE Sensex was up 136.87 points, or 0.44% at 31,274.46. The S&P BSE Small-Cap index was up 90.53 points, or 0.59% at 15,324.77.

On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 1.26 lakh shares in the past one quarter. The stock had hit a high of Rs 68.50 and a low of Rs 65.55 so far during the day. The stock had hit a 52-week high of Rs 189.60 on 1 June 2016 and hit a 52-week low of Rs 58.95 on 23 May 2017.

The stock had underperformed the market over the past one month till 1 June 2017, declining 15.47% compared with the Sensexs 4.08% rise. The scrip had also underperformed the market over the past one quarter declining 30.98% as against the Sensexs 7.43% rise. The scrip had also underperformed the market over the past one year declining 62.48% as against the Sensexs 16.56% rise.

The small-cap company has equity capital of Rs 39.82 crore. Face value per share is Rs 10.

MT Educare had rallied 11.42% in the preceding one trading session to settle at Rs 68.30 yesterday, 1 June 2017, from its closing of Rs 61.30 on 31 May 2017.

MT Educares consolidated net profit fell 51.9% to Rs 2.38 crore on 20.2% decrease in net sales to Rs 33.96 crore in Q4 March 2017 over Q4 March 2016.

MT Educare is one of the leading education support and coaching services provider in school, science and commerce streams across Maharashtra and has operations in other states like Tamil Nadu, Kerala, Andhra Pradesh, Telangana, Karnataka, Punjab, Haryana, Assam, Uttar Pradesh and Gujarat.

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Hindustan Petroleum corporation fixed record date
Jun 02,2017

Hindustan Petroleum Corporation has fixed 12 July 2017 as the record date for the purpose of payment od Dividend and Bonus Issue.

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DCM Shriram gets ratings upgraded
Jun 02,2017

ICRA has upgraded the long-term rating assigned to the bank facilities of DCM Shriram from ICRA AA- to ICRA AA and outlook on the long term rating is Stable. However, the Short Term Rating and Commercial Paper ratings were re-affirmed at ICRA A1+. Fixed Deposit rating is affirmed at ICRA MAA+.

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Himachal Futuristic Communication approves allotment of NCDs
Jun 02,2017

Himachal Futuristic Communication has approved the allotment of 10.30%, 4,23,000 Secured Unlisted Non-convertible Debentures (NCDs) of the Company of Rs.100/- each aggregating to Rs.4,23,00,000/- on private placement basis by way of conversion of outstanding right of recompense amount payable to the State Bank of India.

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Volumes jump at JVL Agro Industries counter
Jun 02,2017

JVL Agro Industries clocked volume of 90.93 lakh shares by 12:30 IST on BSE, a 246.13-times surge over two-week average daily volume of 37,000 shares. The stock hit 20% upper circuit at Rs 21.60.

Rupa & Company notched up volume of 2.6 lakh shares, a 29.07-fold surge over two-week average daily volume of 9,000 shares. The stock jumped 16.12% at Rs 448.

Godrej Consumer Products clocked volume of 4.35 lakh shares, a 24.8-fold surge over two-week average daily volume of 18,000 shares. The stock rose 0.11% at Rs 1,818.55.

PI Industries saw volume of 3.81 lakh shares, a 15.6-fold surge over two-week average daily volume of 24,000 shares. The stock gained 0.22% at Rs 812.

Crompton Greaves Consumer Electricals saw volume of 9.17 lakh shares, a 12.64-fold rise over two-week average daily volume of 73,000 shares. The stock gained 4.58% at Rs 241.85.

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