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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 Rajoo Engineers recommends final dividend
May 10,2017

Rajoo Engineers announced that the Board of Directors of the Company at its meeting held on 8 May 2017, inter alia, have recommended the final dividend of Rs 0.25 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Board of VLS Finance recommends final dividend
May 10,2017

VLS Finance announced that the Board of Directors of the Company at its meeting held on 8 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Board of Precision Wires India recommends final dividend
May 10,2017

Precision Wires India announced that the Board of Directors of the Company at its meeting held on 8 May 2017, inter alia, have recommended the final dividend of Rs 2.25 per equity Share (i.e. 45%) , subject to the approval of the shareholders.

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Board of Automobile Corporation Of Goa recommends final dividend
May 10,2017

Automobile Corporation Of Goa announced that the Board of Directors of the Company at its meeting held on 8 May 2017, inter alia, have recommended the final dividend of Rs 12.5 per equity Share (i.e. 125%) , subject to the approval of the shareholders.

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MPS consolidated net profit declines 28.87% in the March 2017 quarter
May 10,2017

Net profit of MPS declined 28.87% to Rs 15.87 crore in the quarter ended March 2017 as against Rs 22.31 crore during the previous quarter ended March 2016. Sales rose 9.95% to Rs 71.63 crore in the quarter ended March 2017 as against Rs 65.15 crore during the previous quarter ended March 2016.

For the full year,net profit declined 1.80% to Rs 69.96 crore in the year ended March 2017 as against Rs 71.24 crore during the previous year ended March 2016. Sales rose 12.24% to Rs 288.70 crore in the year ended March 2017 as against Rs 257.21 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales71.6365.15 10 288.70257.21 12 OPM %31.9635.50 -32.2435.39 - PBDT27.8831.16 -11 113.11109.27 4 PBT25.9330.02 -14 106.43105.15 1 NP15.8722.31 -29 69.9671.24 -2

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MPS standalone net profit declines 11.04% in the March 2017 quarter
May 10,2017

Net profit of MPS declined 11.04% to Rs 18.86 crore in the quarter ended March 2017 as against Rs 21.20 crore during the previous quarter ended March 2016. Sales rose 3.69% to Rs 57.06 crore in the quarter ended March 2017 as against Rs 55.03 crore during the previous quarter ended March 2016.

For the full year,net profit declined 1.46% to Rs 69.50 crore in the year ended March 2017 as against Rs 70.53 crore during the previous year ended March 2016. Sales declined 0.21% to Rs 223.56 crore in the year ended March 2017 as against Rs 224.04 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales57.0655.03 4 223.56224.04 0 OPM %41.5538.60 -38.9739.96 - PBDT27.9329.27 -5 105.78107.74 -2 PBT26.6328.18 -6 101.18103.88 -3 NP18.8621.20 -11 69.5070.53 -1

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Pioneer Distilleries reports standalone net loss of Rs 11.21 crore in the March 2017 quarter
May 10,2017

Net loss of Pioneer Distilleries reported to Rs 11.21 crore in the quarter ended March 2017 as against net profit of Rs 12.13 crore during the previous quarter ended March 2016. Sales declined 29.43% to Rs 34.60 crore in the quarter ended March 2017 as against Rs 49.03 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 30.08 crore in the year ended March 2017 as against net profit of Rs 21.92 crore during the previous year ended March 2016. Sales declined 40.47% to Rs 113.00 crore in the year ended March 2017 as against Rs 189.83 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales34.6049.03 -29 113.00189.83 -40 OPM %-15.1459.62 -2.7842.82 - PBDT-10.3823.92 PL -16.1457.28 PL PBT-17.6117.44 PL -43.4731.75 PL NP-11.2112.13 PL -30.0821.92 PL

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Samkrg Pistons & Rings standalone net profit rises 102.16% in the March 2017 quarter
May 10,2017

Net profit of Samkrg Pistons & Rings rose 102.16% to Rs 4.67 crore in the quarter ended March 2017 as against Rs 2.31 crore during the previous quarter ended March 2016. Sales rose 0.14% to Rs 64.99 crore in the quarter ended March 2017 as against Rs 64.90 crore during the previous quarter ended March 2016.

For the full year,net profit rose 23.95% to Rs 19.46 crore in the year ended March 2017 as against Rs 15.70 crore during the previous year ended March 2016. Sales rose 2.60% to Rs 251.45 crore in the year ended March 2017 as against Rs 245.08 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales64.9964.90 0 251.45245.08 3 OPM %14.4510.45 -16.0714.48 - PBDT9.707.07 37 39.8934.32 16 PBT6.333.86 64 27.0322.61 20 NP4.672.31 102 19.4615.70 24

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OCL India standalone net profit declines 6.88% in the March 2017 quarter
May 10,2017

Net profit of OCL India declined 6.88% to Rs 112.15 crore in the quarter ended March 2017 as against Rs 120.44 crore during the previous quarter ended March 2016. Sales rose 4.44% to Rs 871.87 crore in the quarter ended March 2017 as against Rs 834.80 crore during the previous quarter ended March 2016.

For the full year,net profit rose 55.93% to Rs 383.87 crore in the year ended March 2017 as against Rs 246.18 crore during the previous year ended March 2016. Sales rose 9.28% to Rs 2911.87 crore in the year ended March 2017 as against Rs 2664.65 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales871.87834.80 4 2911.872664.65 9 OPM %23.0125.48 -23.1820.48 - PBDT192.79210.77 -9 676.65506.22 34 PBT151.81133.39 14 530.39303.16 75 NP112.15120.44 -7 383.87246.18 56

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8K Miles Software Services consolidated net profit rises 178.06% in the March 2017 quarter
May 10,2017

Net profit of 8K Miles Software Services rose 178.06% to Rs 34.34 crore in the quarter ended March 2017 as against Rs 12.35 crore during the previous quarter ended March 2016. Sales rose 93.20% to Rs 166.60 crore in the quarter ended March 2017 as against Rs 86.23 crore during the previous quarter ended March 2016.

For the full year,net profit rose 163.07% to Rs 104.15 crore in the year ended March 2017 as against Rs 39.59 crore during the previous year ended March 2016. Sales rose 96.51% to Rs 534.38 crore in the year ended March 2017 as against Rs 271.93 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales166.6086.23 93 534.38271.93 97 OPM %34.9830.40 -34.8432.55 - PBDT56.8726.23 117 184.4088.52 108 PBT52.2920.79 152 164.7168.29 141 NP34.3412.35 178 104.1539.59 163

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8K Miles Software Services standalone net profit rises 48.57% in the March 2017 quarter
May 10,2017

Net profit of 8K Miles Software Services rose 48.57% to Rs 0.52 crore in the quarter ended March 2017 as against Rs 0.35 crore during the previous quarter ended March 2016. Sales rose 61.02% to Rs 11.03 crore in the quarter ended March 2017 as against Rs 6.85 crore during the previous quarter ended March 2016.

For the full year,net profit rose 85.25% to Rs 2.26 crore in the year ended March 2017 as against Rs 1.22 crore during the previous year ended March 2016. Sales rose 78.72% to Rs 37.46 crore in the year ended March 2017 as against Rs 20.96 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales11.036.85 61 37.4620.96 79 OPM %25.3910.36 -23.3030.82 - PBDT1.340.73 84 6.826.46 6 PBT1.030.61 69 3.521.85 90 NP0.520.35 49 2.261.22 85

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Gartner Says Artificial Intelligence Could Turn Some Skilled Practices Into Utilities
May 10,2017

CIOs have a major role to play in preparing businesses for the impact that artificial intelligence (AI) will have on business strategy and human employment, according to Gartner, Inc. Gartner predicts that by 2022, smart machines and robots may replace highly trained professionals in tasks within medicine, law and IT.

The economics of AI and machine learning will lead to many tasks performed by professionals today becoming low-cost utilities, said Stephen Prentice, vice president and Gartner Fellow. AIs effects on different industries will force the enterprise to adjust its business strategy. Many competitive, high-margin industries will become more like utilities as AI turns complex work into a metered service that the enterprise pays for, like electricity.

The effects that AI will have on the enterprise will depend on its industry, business, organization and customers. Mr. Prentice cited the example of a lawyer who undergoes a long, expensive period of education and training. Any enterprise that hires lawyers must pay salary and benefits big enough to compensate for this training for each successive lawyer it hires. On the other hand, a smart machine that substitutes for a lawyer also requires a long, expensive period of training. But after the first smart machine, the enterprise can add as many other smart machines as it wants for little extra cost.

Financial services is another industry where jobs such as loan origination and insurance claims adjustment could be automated. However, while AI will hit employment numbers in some industries, many others will benefit as AI and automation handle routine and repetitive tasks, leaving more time for the existing workforce to improve service levels, handle more challenging aspects of the role and even ease stress levels in some high-pressure environments.

CIOs Need to Prepare the Enterprise for Changes in Hiring Priorities

Ultimately, AI and humans will differentiate themselves from each other, said Mr. Prentice. AI is most successful in addressing problems that are reasonably well-defined and narrow in scope, whereas humans excel at defining problems that need to be solved and at solving complex problems. They bring a wide range of knowledge and skill to bear and can work through problems in various ways. They can collaborate with one another, and when situations change significantly, humans can adjust.

CIOs should use the enterprises five-year vision to develop a plan for achieving the right balance of AI and human skills. Too much AI-driven automation could leave the enterprise less flexible and less able to adjust to a changing competitive landscape. This approach will also help reassure employees about where and how AI will be used in the organization.

AI Will Challenge the CIO to Restructure IT Operations

AI will eventually replace many routine functions of the IT organization, particularly on the operations side, such as in system administration, help desk, project management and application support.

Some roles will disappear, but AI will improve some skills shortages, and the IT organization as a whole will increasingly focus on more creative work that differentiates the enterprise.

The CIO should commission the enterprise architecture team to identify which IT roles will become utilities and create a timeline for when these changes become possible, said Mr. Prentice. Work with HR to ensure that the enterprise has a plan to mitigate any disruptions that AI will cause, such as offering training and upskilling to help operational staff to move into more-creative positions.

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Hong Kong Stocks gain for third day
May 10,2017

The Hong Kong stock market rose for the third straight session on Wednesday, 10 May 2017, as investor sentiment lifted by strength in many Asian markets as investors focused on strong corporate earnings, as well as signs that money was continuing to flow in from mainland China. On Wednesday, Chinese investors used up roughly 30 percent of the daily quota buying Hong Kong stocks under the Shanghai-Hong Kong Stock Connect scheme. The Hang Seng Index inclined 126.39 points, or 0.51%, to 25015.42. The Hang Seng China Enterprises Index was up 98.43 points, or 0.97%, to 10227.42. Turnover increased to HK$93.6 billion from HK$71 billion on Tuesday.

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Zee in spotlight after stellar Q4 financial performance
May 10,2017

The result was announced during market hours today, 10 May 2017.

Meanwhile, the S&P BSE Sensex was up 325.51 points or 1.09% at 30,258.76.

On the BSE, 2.74 lakh shares were traded on the counter so far as against the average daily volumes of 82,892 shares in the past one quarter. The stock had hit a high of Rs 521.50 and a low of Rs 496.30 so far during the day. The stock had hit a 52-week high of Rs 588.80 on 3 October 2016 and a 52-week low of Rs 405 on 9 May 2016.

The large-cap company has equity capital of Rs 96.04 crore. Face value per share is Re 1.

Zee Entertainment Enterprises Q4 March 2017 consolidated net profit was boosted by an exceptional income of Rs 1223.44 crore on account of sale of Sports Broadcasting Business to Sony Pictures Network.

Advertising revenue for Q4 March 2017 was Rs 846.90 crore. Domestic advertising revenue grew by 8.1% to Rs 794.40 crore while international advertising revenue stood at Rs 52.50 crore.

Subscription revenue fell 6.1% to Rs 558 crore in Q4 March 2017 over Q4 March 2016 due to high base on account of catch-up revenues in Q4 March 2016. Domestic subscription revenue stood at Rs 455.40 crore while international subscription revenue stood at Rs 102.60 crore.

Earnings before interest, tax, depreciation and amortization (EBITDA) rose 14% to Rs 468.70 crore in Q4 March 2017 over Q4 March 2016. EBITDA margin stood at 30.7%.

Zee Entertainment Enterprises said that after a couple of quarters of weakness, advertising growth appears to be back on track. The GST roll-out could boost advertising spends as a part of potential tax savings might be reinvested. While there is uncertainty regarding the implementation of the new tariff regulation due to pending litigations, the company has published the prices of its channels and bouquets. The company is confident that with the strong competitive position of channels in every genre, it will be able to drive subscription business.

Zee Entertainment Enterprises is one of Indias leading television media and entertainment companies. The company and its affiliate companies have leading presence across the media value chain including television broadcasting, cable distribution, direct-to-home satellite services, digital media and print media amongst others.

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China Stocks fall 0.9%
May 10,2017

The Mainland China equity market closed down on Wednesday, 10 May 2017, as risk aversion selloff triggered after soft data showing the countrys April producer price inflation cooled more than expected. Sector performance was mixed, with financials and telecom stocks rising while resource shares lost ground. The Shanghai Composite Index dropped 0.9% to 3052.78 at the close.

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