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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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Vikalp Securities reports standalone net profit of Rs 0.03 crore in the December 2016 quarter
Feb 14,2017

Net profit of Vikalp Securities remain constant at Rs 0.03 crore in the quarter ended December 2016 and also during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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Upasana Finance standalone net profit rises 25.00% in the December 2016 quarter
Feb 14,2017

Net profit of Upasana Finance rose 25.00% to Rs 0.10 crore in the quarter ended December 2016 as against Rs 0.08 crore during the previous quarter ended December 2015. Sales remain constant at Rs 0.09 crore in the quarter ended December 2016 and also during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.090.09 0 OPM %122.22100.00 - PBDT0.110.09 22 PBT0.110.09 22 NP0.100.08 25

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Arex Industries standalone net profit declines 40.96% in the December 2016 quarter
Feb 14,2017

Net profit of Arex Industries declined 40.96% to Rs 0.49 crore in the quarter ended December 2016 as against Rs 0.83 crore during the previous quarter ended December 2015. Sales declined 2.97% to Rs 8.17 crore in the quarter ended December 2016 as against Rs 8.42 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales8.178.42 -3 OPM %19.0926.72 - PBDT1.332.00 -34 PBT0.741.21 -39 NP0.490.83 -41

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Balurghat Technologies standalone net profit declines 7.14% in the December 2016 quarter
Feb 14,2017

Net profit of Balurghat Technologies declined 7.14% to Rs 0.13 crore in the quarter ended December 2016 as against Rs 0.14 crore during the previous quarter ended December 2015. Sales declined 0.99% to Rs 10.02 crore in the quarter ended December 2016 as against Rs 10.12 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales10.0210.12 -1 OPM %3.092.77 - PBDT0.250.25 0 PBT0.180.20 -10 NP0.130.14 -7

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Arrow Greentech standalone net profit declines 62.87% in the December 2016 quarter
Feb 14,2017

Net profit of Arrow Greentech declined 62.87% to Rs 1.76 crore in the quarter ended December 2016 as against Rs 4.74 crore during the previous quarter ended December 2015. Sales rose 18.12% to Rs 7.17 crore in the quarter ended December 2016 as against Rs 6.07 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales7.176.07 18 OPM %46.3056.67 - PBDT3.316.79 -51 PBT2.786.55 -58 NP1.764.74 -63

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Syncom Formulations (India) standalone net profit rises 6.04% in the December 2016 quarter
Feb 14,2017

Net profit of Syncom Formulations (India) rose 6.04% to Rs 2.81 crore in the quarter ended December 2016 as against Rs 2.65 crore during the previous quarter ended December 2015. Sales declined 1.30% to Rs 44.90 crore in the quarter ended December 2016 as against Rs 45.49 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales44.9045.49 -1 OPM %11.009.91 - PBDT5.465.47 0 PBT4.664.63 1 NP2.812.65 6

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Vishvas Projects reports standalone nil net profit/loss in the December 2016 quarter
Feb 14,2017

Vishvas Projects reported no net profit/loss in the quarter ended December 2016 as against net loss of Rs 0.02 crore during the previous quarter ended December 2015. Sales reported to Rs 0.14 crore in the quarter ended December 2016. There were no Sales reported during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.140 0 OPM %00 - PBDT0-0.02 100 PBT0-0.02 100 NP0-0.02 100

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Amines & Plasticizers standalone net profit rises 71.36% in the December 2016 quarter
Feb 14,2017

Net profit of Amines & Plasticizers rose 71.36% to Rs 3.41 crore in the quarter ended December 2016 as against Rs 1.99 crore during the previous quarter ended December 2015. Sales rose 3.49% to Rs 63.73 crore in the quarter ended December 2016 as against Rs 61.58 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales63.7361.58 3 OPM %10.988.88 - PBDT5.803.55 63 PBT5.273.06 72 NP3.411.99 71

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Allied Digital Services reports consolidated net loss of Rs 5.56 crore in the December 2016 quarter
Feb 14,2017

Net loss of Allied Digital Services reported to Rs 5.56 crore in the quarter ended December 2016 as against net profit of Rs 2.12 crore during the previous quarter ended December 2015. Sales declined 25.88% to Rs 48.78 crore in the quarter ended December 2016 as against Rs 65.81 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales48.7865.81 -26 OPM %6.8517.16 - PBDT1.2311.71 -89 PBT-5.006.16 PL NP-5.562.12 PL

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Achal Investments standalone net profit declines 66.67% in the December 2016 quarter
Feb 14,2017

Net profit of Achal Investments declined 66.67% to Rs 0.01 crore in the quarter ended December 2016 as against Rs 0.03 crore during the previous quarter ended December 2015. Sales declined 54.29% to Rs 0.16 crore in the quarter ended December 2016 as against Rs 0.35 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.160.35 -54 OPM %6.258.57 - PBDT0.010.03 -67 PBT0.010.03 -67 NP0.010.03 -67

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Tata Consultancy Services receives 15 Brandon Hall Group Awards
Feb 14,2017

Tata Consultancy Services has been awarded 15 Brandon Hall Group awards across five human categories at the Brandon Hall Groups HCM Excellence Awards 2016.

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Resonance Specialties enters into agreement with Tata Consultancy Services
Feb 14,2017

Resonance Specialties has entered into an agreement with Tata Consultancy Services (TCS), to avail its iON manufacturing Solution.

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Board of Centum Electronics approves allotment of shares under ESOP
Feb 14,2017

Centum Electronics announced that the Board of Directors of the company at its meeting held on 14 February 2017 have considered and approved the below:

1. Allotment of 6,542 equity shares to the employees pursuant to exercise of stock options granted to them under Centum ESOP 2007 & ESOP 2013 Plan.

The employees as listed in the enclosed have been allotted the shares and disclosure is being made in compliance with regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations and other applicable laws including Takeover Code.

2. Declaration of Interim dividend at Rs. 2/- per share on the paid up share capital of the Company. The dividend will be paid on 27 February 2017.

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Board of REC approves sale of shares of NER II Transmission held by REC Transmission Projects Company
Feb 14,2017

Rural Electrification Corporation announced that subject to approval of the Ministry of Power, Government of India, the Board of Directors of Rural Electrification Corporation (REC) in its meeting held on 14 February 2017 has approved the proposal of sale and transfer of 50,000 Equity shares of NER II Transmission held by REC Transmission Projects Company (a wholly owned subsidiary of REC) to Sterlite Grid 4.

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Fitch: Number of AAA-Rated Countries Lowest Since 2003
Feb 14,2017

The number of Fitch-rated sovereigns with AAA ratings is at its lowest level since 2003 and is expected to remain unchanged over the next two years, says Fitch Ratings.

Eleven countries have AAA status, compared with an all-time high of 16 during 2004 to 2009, reflecting the longer term impact of the global financial crisis.

This is less than 10% of Fitchs global sovereign portfolio, the smallest ever share for the rating category, and consistent with AAA sovereigns now accounting for 40% of global government debt at end-2016, down from 48% a decade ago, said James McCormack, Global Head of Sovereign Ratings at Fitch.

All Fitchs AAA sovereigns have a Stable Outlook, suggesting we do not anticipate downgrades in the coming 12 to 24 months. Furthermore, no AA+ rated sovereign has a Positive Outlook, suggesting upgrades to AAA are unlikely over the same time-frame.

Japan was the first sovereign to lose its AAA rating in 1998, followed by another six in the aftermath of the global financial crisis over the seven years since 2009. These are: Austria (AA+/Stable), Finland (AA+/Stable), France (AA/Stable), Ireland (A/Stable), Spain (BBB+/Stable) and the UK (AA/Negative).

Australia is the only sovereign to have been upgraded to AAA in the last decade, in November 2011. No former AAA sovereign has ever regained its AAA status, although we have upgraded Spain and Ireland from their post-crisis lows.

AAA remains our most stable rating. Fitchs latest transition and default study shows the average annual transition rate for AAA sovereigns over the past 20 years was 2.5%, or that 97.5% of sovereigns that start the year at AAA remain there over the next 12 months, added McCormack.

Fitchs AAA sovereigns are: Australia, Canada, Denmark, Germany, Luxembourg, Netherlands, Norway, Singapore, Sweden, Switzerland and the United States.

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