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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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Beryl Drugs to hold board meeting
Jun 28,2017

Beryl Drugs will hold a meeting of the Board of Directors of the Company on 7 July 2017.

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Keerthi Industries to hold AGM
Jun 28,2017

Keerthi Industries announced that the 34th Annual General Meeting (AGM) of the company will be held on 31 August 2017.

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GNA Axles gains after bulk deal
Jun 28,2017

Meanwhile, the S&P BSE Sensex was down 65.40 points, or 0.21% at 30,892.85. The S&P Small-Cap index was up 41.99 points or 0.28% at 15,183.07.

Bulk deal boosted volume on the scrip. On the BSE, 8.69 lakh shares were traded in the counter so far, compared with average daily volumes of 15,174 shares in the past one quarter. The stock had hit a high of Rs 236.70 and a low of Rs 228.05 so far during the day. The stock hit a record high of Rs 275.55 on 10 October 2016. The stock hit a record low of Rs 171.10 on 22 November 2016.

The stock had outperformed the market over the past one month till 27 June 2017, rising 7.42% compared with 0.23% fall in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.97% as against Sensexs 5.89% rise.

Shares of GNA Axles had debuted at Rs 248.50, a premium of 20.05% over its initial public offer (IPO) price of Rs 207 per share on 26 September 2016. The stock had settled at Rs 245.15, a premium of 18.43% over its IPO price on debut.

The IPO of GNA Axles had seen strong response from investors. Bidding for the IPO ended on 16 September 2016. The IPO received bids for 24.52 crore shares and it was subscribed 54.88 times. The IPO price band was Rs 205 to Rs 207 per share.

GNA Axles net profit fell 16.76% to Rs 6.11 crore on 4.45% fall in total income to Rs 127.84 crore in Q4 March 2017 over Q4 March 2016.

GNA Axles is into manufacturing of rear axle shafts used in on-highway and off-highway vehicular segments in India.

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Volumes jump at GNA Axles counter
Jun 28,2017

GNA Axles clocked volume of 8.66 lakh shares by 12:36 IST on BSE, a 39.37-times surge over two-week average daily volume of 22,000 shares. The stock was up 2.13% at Rs 235 after a bulk deal of 8.56 lakh shares was executed on the scrip at Rs 229 per share at 12:23 IST on BSE.

JSW Steel notched up volume of 23.25 lakh shares, a 6.22-fold surge over two-week average daily volume of 3.74 lakh shares. The stock gained 1.29% at Rs 196.65.

AIA Engineering saw volume of 1.01 lakh shares, a 6.04-fold surge over two-week average daily volume of 17,000 shares. The stock declined 0.58% at Rs 1,338.50.

Jaypee Infratech clocked volume of 50.1 lakh shares, a 5.2-fold surge over two-week average daily volume of 9.64 lakh shares. The stock jumped 12.12% at Rs 16.75.

Pidilite Industries saw volume of 1.25 lakh shares, a 4.77-fold rise over two-week average daily volume of 26,000 shares. The stock declined 1.66% at Rs 793.50.

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GMDC recovers after recent sharp slide
Jun 28,2017

Meanwhile, the S&P BSE Sensex was down 60.99 points, or 0.2% at 30,897.26. The S&P BSE Mid-Cap index was up 45.19 points, or 0.31% at 14,514.07.

On the BSE, 1.23 lakh shares were traded on the counter so far as against the average daily volumes of 1.61 lakh shares in the past one quarter. The stock had hit a high of Rs 144.70 and a low of Rs 136 so far during the day. The stock had hit a 52-week high of Rs 159.75 on 19 June 2017 and a 52-week low of Rs 69.50 on 27 June 2016.

The stock had outperformed the market over the past one month till 27 June 2017, advancing 2.12% compared with the Sensexs 0.23% fall. The scrip had also outperformed the market over the past one quarter advancing 11.4% as against the Sensexs 5.89% rise. The scrip had also outperformed the market over the past one year advancing 93.38% as against the Sensexs 17.25% rise.

The mid-cap company has equity capital of Rs 63.60 crore. Face value per share is Rs 2.

Shares of Gujarat Mineral Development Corporation had declined 11.87% in the preceding five trading sessions to settle at Rs 137.30 yesterday, 27 June 2017, from its closing price of Rs 155.80 on 19 June 2017.

Gujarat Mineral Development Corporations net profit spurted 127.6% to Rs 90.01 crore on 48.8% increase in net sales to Rs 525.49 crore in Q4 March 2017 over Q4 March 2016.

Gujarat Mineral Development Corporation (GMDC) is primarily engaged in exploration and development of mineral resources. The Gujarat state government currently holds 74% stake in GMDC (as per the shareholding pattern as on 31 March 2017).

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K. P. Energy provides business update
Jun 28,2017

K.P. Energy announced that DISCOMS had stopped signing PPAs at prevailing affordable rates; Company had not signed PPA under the distress of lower rates for its own WTGs commissioned at Kuchdi site in Porbandar, Gujarat.

The Company has signed Power Purchase Agreement (PPA) with prominent steel industry with Bulk Power Transmission Agreement under Medium term open access (MTOA) with Gujarat Energy Transmission Corporation (GETCO) for 4.2 MW wind farm constituting WTGs of 2.1 MW at Kuchdi site in Porbandar, Gujarat.

Wheeling of 2.1 MW Power started with signing of wheeling agreement with third party at DISCOM, billing for the same started with effect from 19 June 2017.

Further for the WTG of 2.1 MW at Mahuva, Bhavnagar in Gujarat, signing of agreement with third party sale of power is under process and shortly be executed.

All the power sale arrangements under third party open access is sold as Green Power without availing Renewable Energy Certificate.

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Raymond in fashion after buzz of investment in unit
Jun 28,2017

Meanwhile, the S&P BSE Sensex was down 38.24 points, or 0.12%, to 30,920.01. The S&P BSE Mid-Cap index was up 49.50 points, or 0.34%, to 14,518.38.

On the BSE, 30,202 shares were traded in the counter so far, compared with average daily volumes of 1.38 lakh shares in the past one quarter. The stock had hit a high of Rs 721 and a low of Rs 701.70 so far during the day.

The stock had hit a record high of Rs 806.70 on 3 May 2017. The stock had hit a 52-week low of Rs 398.15 on 23 August 2016.

The stock had declined 5.91% in three sessions to Rs 699.25 yesterday, 27 June 2017 from a close of Rs 743.20 on 21 June 2017.

The stock had underperformed the market over the past one month till 27 June 2017, falling 3.35% compared with 0.23% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 9.02% as against Sensexs 5.89% rise. The scrip had also outperformed the market in past one year, gaining 52.01% as against Sensexs 17.25% rise.

The small-cap textile and apparel major has equity capital of Rs 61.38 crore. Face value per share is Rs 10.

Raymond reportedly is going to invest Rs 1400 crore in a phased manner in its new plant at Amravati in Maharashtra, which will go live by the year-end.

The new unit that will produce linen and denim, cotton shirts among other, the company has made an initial investment of Rs 200 crore in the first phase. The facility will employ about 8,000 workers when fully operational.

The plant will be used to produce items to meet the demand of Raymonds own brands as well as for other third parties, report said.

The company is on a retail expansion mode with 300 fresh stores likely to open in the next two years, report added.

Raymonds consolidated net profit fell 40.1% to Rs 33.68 crore on 2.5% decline in net sales to Rs 1473.60 crore in Q4 March 2017 over Q4 March 2016.

The Raymond Group was incorporated in 1925 and is a textiles manufacturer. The company makes finest fabrics - from wool to wool-blended worsted suiting to specialty ring denims as well as high value shirting.

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3i Infotech pays Rs 38.5 crore in principal outstanding debt
Jun 28,2017

3i Infotech has pre-paid Rs.38.5 crore of its Principal Outstanding Debt.

This amount represents 6 monthly instalments of the Principal Amount which were due for repayment from 30 April 2018 as per the terms of the Debt Realignment Scheme (DRS) approved by its Lenders.

The Company continues to service its lenders on a regular basis from the effective date of implementation of DRS i.e. 01 April 2016.

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Mold-Tek Packaging to invest Rs 25 crore for capacity expansion
Jun 28,2017

Mold-Tek Packaging has decided to invest Rs.25 crore in expanding in Hyderabad Plants to triple its capacity of producing the Food & FMCG IML thin wall containers. First phase of Project will go into production in Nov- 2017 and completed by June 2018. This investment will be over and above the Investment of two dedicated plants being setup for Asian Plants.

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Steel Strips Wheels bags an export order
Jun 28,2017

Steel Strips Wheels has bagged an Exports order for supply of Steel wheels for EU Caravan & Canadian Winter market.

This order covers supplies of approx 15,500 nos of wheels with total order value above USD 150,000 and would be dispatched by end of July 2017 from SSWLs Chennai plant.

This repeat order strengthens SSWLs position as a strong player in extremely competitive Caravan & Winter wheels market in EU and Canada.

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Steel Strips Wheels shines after bagging overseas export order
Jun 28,2017

The announcement was made during trading hours today, 28 June 2017.

Meanwhile, the S&P BSE Sensex was down 6.25 points, or 0.02% at 30,952. The S&P Small-Cap index was up 56.35 points or 0.37% at 15,197.43.

On the BSE, 780 shares were traded in the counter so far, compared with average daily volumes of 5,311 shares in the past one quarter. The stock had hit a high of Rs 898 and a low of Rs 852.80 so far during the day. The stock hit a record high of Rs 956.60 on 12 June 2017. The stock hit a 52-week low of Rs 435.25 on 27 June 2016.

The stock had underperformed the market over the past one month till 27 June 2017, rising 3.09% compared with 0.23% fall in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.54% as against Sensexs 5.89% rise. The scrip, however, outperformed the market in past one quarter, surging 94.39% as against Sensexs 17.25% rise.

The small-cap company has equity capital of Rs 15.56 crore. Face value per share is Rs 10.

Steel Strips Wheels announced that the company has bagged export order for supply of Steel wheels for EU Caravan & Canadian Winter market. This order covers supplies of approx 15,500 units of wheels with total order value above $150,000 and would be dispatched by end of July 2017 from the companys Chennai plant. This repeat order strengthens the companys position as a strong player in extremely competitive Caravan & Winter wheels market in EU and Canada, Steel Strips Wheels said.

Net profit of Steel Strips Wheels rose 12.17% to Rs 20.74 crore on 23.07% rise in net sales to Rs 380.15 crore in Q4 March 2017 over Q4 March 2016.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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TVS Motor Company partners with Abans Auto, Sri Lanka
Jun 28,2017

TVS Motor Company announced its partnership with Abans Auto, a leading distributor in Sri Lanka. Through this tie-up, TVS King, the 200 cc passenger three wheeler, will be launched in Sri Lanka market. As part of the agreement, the Company will leverage Aban Autos network of over 200 showrooms and appointed dealers in strategic locations around Sri Lanka. Furthermore, Abans Auto will provide finance schemes to customers of TVS Motor Company at affordable rates.

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ICICI Bank climbs higher after allotting debentures
Jun 28,2017

The announcement was made after market hours yesterday, 27 June 2017.

Meanwhile, the S&P BSE Sensex was down 13.09 points, or 0.04%, to 30,945.16.

On the BSE, 2.54 lakh shares were traded in the counter so far, compared with average daily volume of 17.81 lakh shares in the past one quarter. The stock had hit a high of Rs 293 and a low of Rs 288.20 so far during the day. The stock had hit a 52-week high of Rs 297.73 on 1 June 2017. The stock had hit a 52-week low of Rs 209.05 on 27 June 2016.

The stock had underperformed the market over the past one month till 27 June 2017, falling 1.51% compared with 0.23% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 15.83% as against Sensexs 5.89% rise. The scrip had also outperformed the market in past one year, gaining 36.05% as against Sensexs 17.25% rise.

The large-cap private sector bank has equity capital of Rs 1282.57 crore. Face value per share is Rs 2.

ICICI Bank said that the committee of executive directors of the bank approved the allotment of 21,470 senior, unsecured redeemable long term bonds in the nature of debentures aggregating Rs 2147 crore on private placement basis, deemed date of allotment being 27 June 2017.

The notes were issued in two tranches-Rs 400 crore maturing in 7 years at a coupon of 7.42% per annum payable annually and Rs 1747 crore maturing in 10 years at a coupon of 7.47% per annum payable annually. The notes were issued at par.

On 20 June 2017, the bank had said that the committee of executive directors of the bank approved the proposal for fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures in single/multiple tranches on private placement basis.

ICICI Banks net profit jumped 188.5% to Rs 2024.64 crore on 10.8% decline in total income to Rs 16585.76 crore in Q4 March 2017 over Q4 March 2016.

ICICI Bank is one of the leading private sector banks in India.

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Nivedita Mercantile And Financing appoints director
Jun 28,2017

Nivedita Mercantile And Financing announced the appointment of Gautam Panchal as an Additional Director in the capacity of Independent Non-Executive vide Circular Resolution approved on 27 June 2017. The appointment is effective from 27 June 2017.

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SW Investments appoints director
Jun 28,2017

SW Investments announced the appointment of Gautam Panchal as an Additional Director in the capacity of Independent Non-Executive vide Circular Resolution on 27 June 2017. The appointment is effective from 27 June 2017.

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