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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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Moodys: Global luxury retailers earnings growth could double in 2017 but wont return to double-digit levels soon
May 31,2017

Global luxury retailers earnings growth could nearly double in 2017 (4% in 2016 to 7% in 2017), but is unlikely to reach the double-digit levels achieved in the halcyon 2010-13 period, says Moodys Investors Service in a report published today.

Moodys report looked at a sample of 11 luxury product manufacturers comparing a broad range of financial metrics including revenue growth, EBITDA margin, share buybacks and dividends.

A return to double-digit growth for the global luxury retail segment is unlikely until at least 2020 as the Chinese consumer boom has slowed, value-conscious consumers are now less likely to stand for price hikes, and competition from other sectors like travel and fine dining remains elevated, says Vincent Gusdorf, Vice President -- Senior Analyst at Moodys.

The overall credit quality of the luxury industry should improve slightly in 2017. Shiseido Company, Limiteds (A2 stable) Moodys-adjusted debt/EBITDA Moodys-adjusted will strengthen on the back of higher earnings and conservative financial policies. SMCP Group (B1 stable), which owns the Sandro, Maje and Claudie Pierlot brands, will see the most marked improvement in credit metric terms on the back of new store openings and high like-for-like growth.

US firms Tiffany & Co. (Baa2 stable), and Ralph Lauren Corporation (A2 stable) will cut capex and shareholder remuneration to maintain stable leverage in the face of a slowdown in earnings growth into 2018 as a result of a strong dollar, department store deterioration and operating issues. On the other hand, The Estn++e Lauder Companies Inc. (A2 stable) should perform well thanks to its good international diversification and its portfolio of well-recognized brands.

Other factors facing the luxury goods sector include rising competition, which is pushing some to improve productivity. Many luxury groups also intend to reduce their reliance on department stores, particularly in the US where companies such as Macys, Inc (Baa3, stable), Kohls Corporation (Baa2, stable), or Nordstrom, Inc. (Baa1, stable), have been hard-hit by changing shopping trends, lower mall traffic, and competition from online and off-price retailers.

Companies are also now putting the brakes on new store openings, with some choosing to instead focus on improving the productivity of existing stores. Others, such as Ralph Lauren Corporation (A2, stable) are reducing their store portfolio. This decline in openings is credit positive as it reduces fixed costs such as rent, improves the financial flexibility of luxury companies and bolsters cash flow generation.

Luxury companies will also look to cut share buybacks when necessary to preserve their credit ratios, but payout ratios will remain high. Estn++e Lauder, which has a history of large and frequent share buybacks, will likely remain one of the most shareholder-friendly companies in the sector.

M&A will continue to constrain ratings as luxury companies are now considering large acquisitions. The companies in Moodys sample will spend $7 billion on acquisitions in 2017, compared to $2 billion in 2016. Coach, Inc.s (Baa2, ratings under review) planned purchase of Kate Spade & Company for $2.4 billion, largely using debt, will be credit negative. More positively, multi-brand groups may sell underperforming subsidiaries and improve their credit ratios.

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Tara Jewels reports standalone net loss of Rs 8.93 crore in the March 2017 quarter
May 31,2017

Net Loss of Tara Jewels reported to Rs 8.93 crore in the quarter ended March 2017 as against net loss of Rs 10.08 crore during the previous quarter ended March 2016. Sales declined 8.24% to Rs 307.81 crore in the quarter ended March 2017 as against Rs 335.45 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 11.82 crore in the year ended March 2017 as against net profit of Rs 9.25 crore during the previous year ended March 2016. Sales declined 12.31% to Rs 1189.48 crore in the year ended March 2017 as against Rs 1356.53 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales307.81335.45 -8 1189.481356.53 -12 OPM %2.981.46 -6.537.10 - PBDT-6.30-9.38 33 8.2137.19 -78 PBT-11.44-14.75 22 -13.9615.83 PL NP-8.93-10.08 11 -11.829.25 PL

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Saamya Biotech (India) reports standalone net loss of Rs 40.30 crore in the March 2017 quarter
May 31,2017

Net loss of Saamya Biotech (India) reported to Rs 40.30 crore in the quarter ended March 2017 as against net profit of Rs 0.24 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 41.64 crore in the year ended March 2017 as against net loss of Rs 0.44 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 as against Rs 14.40 crore during the previous year ended March 2016.

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Tivoli Construction reports standalone net profit of Rs 0.01 crore in the March 2017 quarter
May 31,2017

Net profit of Tivoli Construction remain constant at Rs 0.01 crore in the quarter ended March 2017 and also during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.01 crore in the year ended March 2017 as against net loss of Rs 0.01 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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Sanghvi Movers standalone net profit rises 31.83% in the March 2017 quarter
May 31,2017

Net profit of Sanghvi Movers rose 31.83% to Rs 47.96 crore in the quarter ended March 2017 as against Rs 36.38 crore during the previous quarter ended March 2016. Sales rose 1.11% to Rs 170.35 crore in the quarter ended March 2017 as against Rs 168.48 crore during the previous quarter ended March 2016.

For the full year,net profit rose 2.08% to Rs 109.18 crore in the year ended March 2017 as against Rs 106.96 crore during the previous year ended March 2016. Sales rose 4.20% to Rs 553.14 crore in the year ended March 2017 as against Rs 530.82 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales170.35168.48 1 553.14530.82 4 OPM %73.1365.40 -66.2565.38 - PBDT111.0497.80 14 311.48298.11 4 PBT69.6861.49 13 161.50171.79 -6 NP47.9636.38 32 109.18106.96 2

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Millennium Online Solutions (India) reports standalone net profit of Rs 0.05 crore in the March 2017 quarter
May 31,2017

Net profit of Millennium Online Solutions (India) reported to Rs 0.05 crore in the quarter ended March 2017 as against net loss of Rs 0.04 crore during the previous quarter ended March 2016. Sales rose 157.14% to Rs 0.36 crore in the quarter ended March 2017 as against Rs 0.14 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.01 crore in the year ended March 2017 as against net loss of Rs 0.01 crore during the previous year ended March 2016. Sales rose 725.00% to Rs 1.32 crore in the year ended March 2017 as against Rs 0.16 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.360.14 157 1.320.16 725 OPM %-16.67-42.86 --9.09-100.00 - PBDT0.05-0.04 LP -0.01-0.01 0 PBT0.05-0.04 LP -0.01-0.01 0 NP0.05-0.04 LP -0.01-0.01 0

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Jolly Plastic Industries standalone net profit declines 50.00% in the March 2017 quarter
May 31,2017

Net profit of Jolly Plastic Industries declined 50.00% to Rs 0.01 crore in the quarter ended March 2017 as against Rs 0.02 crore during the previous quarter ended March 2016. Sales declined 71.43% to Rs 0.04 crore in the quarter ended March 2017 as against Rs 0.14 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.03 crore in the year ended March 2017. There were no net profit/loss reported during the previous year ended March 2016. Sales declined 40.00% to Rs 0.09 crore in the year ended March 2017 as against Rs 0.15 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.040.14 -71 0.090.15 -40 OPM %50.0014.29 -44.440 - PBDT0.020.02 0 0.040 0 PBT0.020.02 0 0.040 0 NP0.010.02 -50 0.030 0

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The Hi-Tech Gears standalone net profit rises 39.60% in the March 2017 quarter
May 31,2017

Net profit of The Hi-Tech Gears rose 39.60% to Rs 4.83 crore in the quarter ended March 2017 as against Rs 3.46 crore during the previous quarter ended March 2016. Sales declined 1.00% to Rs 112.88 crore in the quarter ended March 2017 as against Rs 114.02 crore during the previous quarter ended March 2016.

For the full year,net profit declined 3.69% to Rs 20.38 crore in the year ended March 2017 as against Rs 21.16 crore during the previous year ended March 2016. Sales declined 0.10% to Rs 449.54 crore in the year ended March 2017 as against Rs 449.97 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales112.88114.02 -1 449.54449.97 0 OPM %12.5811.62 -12.0612.71 - PBDT14.2112.75 11 55.3457.00 -3 PBT8.307.12 17 31.8634.27 -7 NP4.833.46 40 20.3821.16 -4

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Millennium Online Solutions (India) reports consolidated net profit of Rs 0.03 crore in the March 2017 quarter
May 31,2017

Net profit of Millennium Online Solutions (India) reported to Rs 0.03 crore in the quarter ended March 2017 as against net loss of Rs 0.03 crore during the previous quarter ended March 2016. Sales declined 23.75% to Rs 3.05 crore in the quarter ended March 2017 as against Rs 4.00 crore during the previous quarter ended March 2016.

For the full year,net profit declined 42.86% to Rs 0.04 crore in the year ended March 2017 as against Rs 0.07 crore during the previous year ended March 2016. Sales declined 26.81% to Rs 14.03 crore in the year ended March 2017 as against Rs 19.17 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales3.054.00 -24 14.0319.17 -27 OPM %-1.64-0.25 --0.290.37 - PBDT0.04-0.01 LP 0.050.09 -44 PBT0.03-0.03 LP 0.040.07 -43 NP0.03-0.03 LP 0.040.07 -43

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Ambalal Sarabhai Enterprises announces resignation of director
May 31,2017

Ambalal Sarabhai Enterprises announced that V Suryakumar, Independent director of the company has resigned from the Board with effect from 30 May 2017.

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Hazoor Multi Projects announces resignation of director
May 31,2017

Hazoor Multi Projects announced the resignation of Deenbandhu M. Upasani, Independent Director of the Company w.e.f. 31 May 2017.

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Priyadarshini reports standalone net loss of Rs 2.27 crore in the March 2017 quarter
May 31,2017

Net Loss of Priyadarshini reported to Rs 2.27 crore in the quarter ended March 2017 as against net loss of Rs 10.50 crore during the previous quarter ended March 2016. Sales declined 5.02% to Rs 6.06 crore in the quarter ended March 2017 as against Rs 6.38 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 10.83 crore in the year ended March 2017 as against net loss of Rs 13.89 crore during the previous year ended March 2016. Sales declined 14.59% to Rs 25.35 crore in the year ended March 2017 as against Rs 29.68 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales6.066.38 -5 25.3529.68 -15 OPM %-34.32-9.72 --13.85-3.44 - PBDT-1.93-0.17 -1035 -3.310 0 PBT-2.27-6.19 63 -10.83-9.58 -13 NP-2.27-10.50 78 -10.83-13.89 22

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Tatia Global Venture consolidated net profit declines 57.14% in the March 2017 quarter
May 31,2017

Net profit of Tatia Global Venture declined 57.14% to Rs 0.54 crore in the quarter ended March 2017 as against Rs 1.26 crore during the previous quarter ended March 2016. Sales declined 14.11% to Rs 1.40 crore in the quarter ended March 2017 as against Rs 1.63 crore during the previous quarter ended March 2016.

For the full year,net profit declined 75.32% to Rs 0.19 crore in the year ended March 2017 as against Rs 0.77 crore during the previous year ended March 2016. Sales declined 14.63% to Rs 1.40 crore in the year ended March 2017 as against Rs 1.64 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1.401.63 -14 1.401.64 -15 OPM %67.1488.96 -44.2969.51 - PBDT0.871.26 -31 0.550.94 -41 PBT0.711.26 -44 0.380.93 -59 NP0.541.26 -57 0.190.77 -75

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Divinus Fabrics reports standalone net profit of Rs 0.02 crore in the March 2017 quarter
May 31,2017

Net profit of Divinus Fabrics remain constant at Rs 0.02 crore in the quarter ended March 2017 and also during the previous quarter ended March 2016. Sales rose 25.61% to Rs 1.03 crore in the quarter ended March 2017 as against Rs 0.82 crore during the previous quarter ended March 2016.

For the full year,net profit remain constant at Rs 0.03 crore in the year ended March 2017 and also during the previous year ended March 2016. Sales rose 17.18% to Rs 3.82 crore in the year ended March 2017 as against Rs 3.26 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1.030.82 26 3.823.26 17 OPM %2.913.66 -1.311.23 - PBDT0.030.03 0 0.050.04 25 PBT0.030.03 0 0.050.04 25 NP0.020.02 0 0.030.03 0

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Aplaya Creations reports standalone net loss of Rs 0.02 crore in the March 2017 quarter
May 31,2017

Net loss of Aplaya Creations reported to Rs 0.02 crore in the quarter ended March 2017 as against net profit of Rs 0.03 crore during the previous quarter ended March 2016. Sales rose 8.24% to Rs 4.73 crore in the quarter ended March 2017 as against Rs 4.37 crore during the previous quarter ended March 2016.

For the full year,net profit declined 77.78% to Rs 0.02 crore in the year ended March 2017 as against Rs 0.09 crore during the previous year ended March 2016. Sales declined 50.46% to Rs 10.28 crore in the year ended March 2017 as against Rs 20.75 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales4.734.37 8 10.2820.75 -50 OPM %-0.630.92 -0.390.72 - PBDT-0.030.04 PL 0.040.15 -73 PBT-0.030.03 PL 0.020.13 -85 NP-0.020.03 PL 0.020.09 -78

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