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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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Board of Regency Ceramics approves change in directorate
Feb 14,2017

Regency Ceramics announced that the Board of Directors of the Company at its meeting held on 14 February 2017 took note of appointment of Y Vijaya Lakshmi, Independent Director with effect from 14 February 2017 and resignation of G Vijayavani, Director with effect from 14 February 2017.

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Viceroy Hotels appoints compliance officer
Feb 14,2017

Viceroy Hotels announced that Sonam Jaiswal, a qualified Company Secretary, has been appointed as the Compliance Officer of the Company with effect from 13 February 2017, as informed in the Outcome of Board Meeting dated 13 February 2017.

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Sterlite Technologies wins prestigious Aegis Graham Bell Award 2016
Feb 14,2017

Sterlite Technologies has won the prestigious Aegis Graham Bell Award 2016 for Innovation in Telecom Infra category. Sterlite Technologies received this award for its unique Wi-Fi and Enterprise Network Backhaul Solution using neutral fibre-to-the-x (FTTx) infrastructure.

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Repco Home Finance tops losers on BSEs A group
Feb 14,2017

Repco Home Finance slipped 7.36% at Rs 674.30. The stock topped the losers in A group. On the BSE, 20,000 shares were traded on the counter so far as against the average daily volumes of 9,168 shares in the past two weeks.

Shree Cement slipped 5.03% at Rs 15,105.60. The stock was the second biggest loser in A group. On the BSE, 574 shares were traded on the counter so far as against the average daily volumes of 4,808 shares in the past two weeks.

Hindustan Petroleum Corporation (HPCL) slipped 4.51% at Rs 552.10. The stock was the third biggest loser in A group. On the BSE, 2.33 lakh shares were traded on the counter so far as against the average daily volumes of 1.87 lakh shares in the past two weeks.

NMDC slipped 4.06% at Rs 139.35. The stock was the fourth biggest loser in A group. On the BSE, 3.73 lakh shares were traded on the counter so far as against the average daily volumes of 2.01 lakh shares in the past two weeks.

Unitech slipped 4.05% at Rs 5.92. The stock was the fifth biggest loser in A group. On the BSE, 73.24 lakh shares were traded on the counter so far as against the average daily volumes of 1.77 crore shares in the past two weeks.

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Board of IZMO approves preferential issue of shares
Feb 14,2017

The Board of Directors of IZMO at its meeting held on 13 February 2017 approved the proposal for 6 lakh preferential issue of equity share capital to Edelweiss ARC subject to approval of shareholders.

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Bharat Electronics to pay interim dividend
Feb 14,2017

Bharat Electronics announced that interim dividend of Rs. 3.00/- per share declared at the board meeting held on 27 January 2017 will be paid on 24 February 2017 to the eligible shareholders.

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Shreyas Shipping & Logistics signs MoA for sale of vessel
Feb 14,2017

Shreyas Shipping & Logistics has signed a Memorandum of Agreement (MOA) for sale of one of its container vessel M. V. SSL Trust.

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Techno Electric & Engineering Company fixes record date for buyback of shares
Feb 14,2017

Techno Electric & Engineering Company announced that the Buyback Committee, constituted by the Board of Directors of the Company has fixed 03 March 2017 as the Record Date for determining the Members of the Company who are eligible to participate in the Buyback.

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Sun Pharmaceutical Industries allots 20,993 equity shares
Feb 14,2017

Sun Pharmaceutical Industries announced that the Allotment Committee of Directors at its meeting held on 14 February 2017, allotted 20,993(Twenty Thousand Nine Hundred and Ninety Three) equity shares of the Company of Re. 1/- (Rupee One Only) each, on exercise of stock options under the Sun Employee Stock Option Scheme - 2015.

Accordingly, post the above allotment the paid-up equity share capital of the Company is Rs. 2,39,92,91,181 divided into 2,39,92,91,181 equity shares of Re 1 each.

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Canara Bank plans to divest upto 13.45% of stake held in Can Fin Homes
Feb 14,2017

Can Fin Homes announced that the promoter Bank, Canara Bank has decided to divest upto 13.45% of its stake in the Company to prospective investors.

Canara Bank has empaneled Merchant/ Investment Bankers for sourcing prospective investors and the last date for submission of the bid by prospective investors through Investment Bankers is scheduled on 01 March 2017.

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Rain Industries receives ratings for borrowing
Feb 14,2017

Rain Industries has received following credit ratings from India Ratings and Research for the borrowings of the Company -

Non fund based limits - IND A2+
External commercial borrowings - IND A-

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Suzlon Energy corrects on profit booking
Feb 14,2017

Meanwhile, the BSE Sensex was down 38.68 points, or 0.14%, to 28,312.94.

On the BSE, so far 28.25 lakh shares were traded in the counter, compared with average daily volumes of 53.39 lakh shares in the past one quarter. The stock had hit a high of Rs 18.20 and a low of Rs 17.50 so far during the day.

The stock hit a 52-week high of Rs 19.10 on 12 July 2016. The stock hit a 52-week low of Rs 12.47 on 9 November 2016. The stock had outperformed the market over the past 30 days till 13 February 2017, rising 20.01% compared with the 4.09% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.74% as against Sensexs 7.78% rise.

The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

Shares of Suzlon Energy rose 13.88% in four trading sessions to settle at Rs 18.05 yesterday, 13 February 2017, from its close of Rs 15.85 on 7 February 2017.

Shares of Suzlon Energy jumped 4.94% to Rs 18.05 in a single trading session yesterday, 13 February 2017, after the company reported strong Q3 results after market hours on Friday, 10 February 2017.

On a consolidated basis, Suzlon Energy reported net profit of Rs 274.34 crore in Q3 December 2016 compared with net loss of Rs 121.84 crore in Q3 December 2015. Net sales rose 75.68% to Rs 3307.48 crore in Q3 December 2016 over in Q3 December 2015.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 124% to Rs 745 crore in Q3 December 2016 over in Q3 December 2015.

Consolidated net term debt (excluding foreign currency convertible bond or FCCB) was reported at Rs 6538 crore. Working capital debt was reported at Rs 3167 crore.

The companys consolidated order book stood at 1,231 megawatts (MW) valued at Rs 7523 crore.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.

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Moodys: Continued robust demand for aircraft will support aircraft financing in 2017
Feb 14,2017

New commercial aircraft funding requirements will continue to grow at a steady pace in 2017 on the back of robust expansion in the global aircraft fleet, Moodys Investors Service says in a new report. Growth in the availability and trading of mid-life and older aircraft will further sustain the need for financing, and funding sources will remain abundant.

More than 1,300 aircraft are scheduled for delivery this year, and that figure will be even higher in 2018. Boeing Capital Corp. forecasts the value of deliveries at $126 billion in 2017 and $141 billion in 2018, with the majority financed by debt.

The need for aircraft financing will rise along with growth in passenger and, therefore, aircraft demand, says Moodys Senior Credit Officer, Jonathan Root. We expect aircraft finance markets to remain strong in the year ahead, providing airlines and lessors with ample liquidity and a wide variety of funding sources.

The three main sources of aircraft financing -- cash, commercial banks and capital markets -- will all either maintain or grow in overall volume in 2017, according to Boeing Capital. Bank appetite for aircraft lending could decline if proposed modifications to Basel III rules are adopted, however. The changes would restrict banks use of internal risk models to determine capital levels for specialized lending, and would likely raise the cost of financing.

Regulatory pressures on banks and the limited availability of export credit agency financing are leading to capital market innovation for financing aircraft, with some structures designed to replace bank funding and others to appeal to investors new to aviation finance. Still others combine elements of traditional asset-backed securities (ABS) and managed funds to segment risk in new ways.

Issuance of aircraft ABS, the majority collateralized by mid-life and older assets, will strengthen in 2017, says Moodys Senior Credit Officer, Tracy Rice. Larger aircraft lessors will issue ABS on an opportunistic basis, including to sell aircraft portfolios, while mid-tier leasing companies will use ABS for permanent financing.

Favorable industry conditions will support the credit performance of aircraft ABS transactions and EETCs in the year ahead, Moodys says. And steady demand for aircraft will help ease the rate of decline in the value of older aircraft in outstanding rated deals.

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BGR Energy Systems advances after turnaround Q3 results
Feb 14,2017

The result was announced after market hours yesterday, 13 February 2017.

Meanwhile, the S&P BSE Sensex was down 18.31 points, or 0.06%, to 28,333.31.

On the BSE, 1.72 lakh shares were traded on the counter so far as against the average daily volumes of 76,291 shares in the past one quarter. The stock had hit a high of Rs 151.95 and a low of Rs 142 so far during the day.

The stock had hit a 52-week high of Rs 155.45 on 9 February 2017 and a 52-week low of Rs 89.40 on 12 February 2016. The stock had outperformed the market over the past one month till 13 February 2017, advancing 8.27% compared with the Sensexs 4.09% rise. The scrip had also outperformed the market over the past one quarter advancing 28.62% as against the Sensexs 5.72% rise.

The small-cap company has equity capital of Rs 72.16 crore. Face value per share is Rs 10.

BGR Energy Systems net sales rose 3.1% to Rs 635.05 crore in Q3 December 2016 over Q3 December 2015.

BGR Energy Systems is a leading engineering, procurement and construction (EPC) and balance of plant (BoP) engineering and contracting company for power projects in India.

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SJVN jumps after good Q3 results
Feb 14,2017

Meanwhile, the BSE Sensex was down 25.21 points, or 0.09%, to 28,326.41.

On the BSE, so far 2.13 lakh shares were traded in the counter, compared with average daily volumes of 1.49 lakh shares in the past one quarter. The stock had hit a high of Rs 34.90 and a low of Rs 34 so far during the day.

The stock hit a record high of Rs 35 on 27 October 2016. The stock hit a 52-week low of Rs 26 on 9 November 2016. The stock had underperformed the market over the past 30 days till 13 February 2017, rising 2.48% compared with the 4.09% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 15.79% as against Sensexs 7.78% rise.

The large-cap company has equity capital of Rs 4136.63 crore. Face value per share is Rs 10.

SJVN, a Mini Ratna & Schedule A CPSU under the Ministry of Power, Government of India, is a joint venture between the Government of India & Government of Himachal Pradesh. SJVN is operating the countrys largest 1500 MW Nathpa Jhakri Hydropower Station in Himachal Pradesh.

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