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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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Brokerage buy boosts UltraTech Cement
Apr 25,2017

Meanwhile, the S&P BSE Sensex was up 290.20 points or 0.98% at 29,946.04.

On the BSE, 30,000 shares were traded on the counter so far as against the average daily volumes of 25,253 shares in the past one quarter. The stock had hit a high of Rs 4,259.90 so far during the day, which is a record high. The stock hit a low of Rs 4,110.05 so far during the day.

The stock had hit a 52-week low of Rs 3,050 on 11 May 2016. It had outperformed the market over the past one month till 24 April 2017, advancing 4.34% compared with the Sensexs 0.8% rise. The scrip had also outperformed the market over the past one quarter, gaining 13.47% as against the Sensexs 8.33% rise.

The large-cap company has equity capital of Rs 274.51 crore. Face value per share is Rs 10.

Shares of UltraTech Cement had risen 4.42% to settle at Rs 4,144. 35 yesterday, 24 April 2017. The companys consolidated net profit declined 11.24% to Rs 726 crore on 2.59% growth in net sales to Rs 6922 crore in Q4 March 2017 over Q4 March 2016. The result was announced during market hours yesterday, 24 April 2017.

UltraTech said that work on setting up the 3.5 million tonnes per annum (MTPA) integrated cement plant at Dhar, Madhya Pradesh is on track. Commercial production is expected to commence from Q4 of FY 2019.

With this expansion and the acquisition of the cement plants of Jaiprakash Associates, the companys cement capacity will stand augmented to 95.4 MTPA, including its overseas operations.

UltraTech Cement is a leading cement manufacturer in India. It is a part of the Aditya Birla Group.

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Can Fin Homes moves up on strong Q4 results
Apr 25,2017

The result was announced during market hours today, 25 April 2017.

The stock has jumped 7.81% in five sessions to its ruling price of Rs 2,625.80, from a close of Rs 2,435.55 on 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 252.62 points, or 0.85%, to 29,908.46. The S&P BSE Mid-Cap index was up 134.70 points, or 0.92%, to 14,760.43.

On the BSE, 16,089 shares were traded in the counter so far, compared with an average volume of 11,143 shares in the past one quarter.

The stock had hit a high of Rs 2,633.95 and a low of Rs 2,555.25 so far during the day. The stock had hit a record high of Rs 2,669.55 on 13 April 2017. The stock had hit a 52-week low of Rs 1,079.85 on 24 June 2016.

It had outperformed the market over the past one month till 24 April 2017, gaining 25.03% compared with the Sensexs 0.8% rise. The scrip had also outperformed the market over the past one quarter, advancing 49.28% as against the Sensexs 8.33% rise.

The mid-cap company has an equity capital of Rs 26.62 crore. Face value per share is Rs 10.

Can Fin Homes main business is to provide loans for the purchase and construction of residential houses.

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World Bank To Provide US$ 600 million (approx. Rs 3,870 crore) Across Four New Projects in Jharkhand
Apr 25,2017

The World Bank extended its support to the Government of Jharkhand with a proposed assistance program of about US$ 600 million (approx. Rs 3,870 crore1]) for four new state-level projects over the next 2-3 years*. This was announced by the World Bank Country Director, Junaid Ahmad, following his meetings with the Chief Minister of Jharkhand, Raghubar Das. This is the first state visit by the Country Director of the World Bank since taking over office.

The new state-level projects will help improve infrastructure and provide sustainable urban and rural services in the areas of water supply and sanitation for the people of Jharkhand; increase the power transmission capacity; and diversify household income through select farm and non-farm sectors.

n++Jharkhand is a key state in Indias growth trajectory and in its fight against poverty. The Chief Minister has identified a series of important reforms to hasten the pace of development in the state and the World Bank has committed its full support to these efforts,n++ said Junaid Ahmad World Bank Country Director in India, following his meeting with the Chief Minister. n++Our projects over the next few years will help the state strengthen the delivery of public services through investments in rural and urban infrastructure - enabling its people to gain access to better jobs and services,n++ he added.

Among the upcoming projects, the US$ 300 million (approx. Rs 1,935 crore) Jharkhand Municipal Development Project aims to provide citizens with sustainable basic services such as water supply and sanitation by enhancing the capacity of Urban Local Bodies (ULBs) to undertake policy reforms and set up systems that will help them better manage their resources and increase accountability.

The US$ 150 million (approx. Rs 967.50 crore) World Bank financing for Jharkhand Power System Improvement Project will support the state in increasing the transmission of power from Jharkhand to other states of the country; increase the power transmission capacity; streamline procurement and contract management practices in the transmission company, Jharkhand Urja Sancharan Nigam (JUSNL); and help the distribution company, Jharkhand Bijli Vitran Nigam, (JBVNL) reduce its Aggregate Transmission and Commercial (AT&C) losses.

The US$ 100 million (approx. Rs 645 crore) World Bank financing for Jharkhand Opportunities for Harnessing Rural Growth Project (JOHAR) will enhance and diversify household income in select farm and non-farm sectors. The project will promote market access and private sector participation, foster skill development relevant to the value chains, and facilitate the development of a pro-poor agricultural system.

The Jharkhand Service Delivery Improvement Project, for which the World Bank is expected to provide US$ 50 million (approx. Rs 322.50 crore) will help the government provide services to its citizens through the Pragya Kendras. The project aims to increase the number of beneficiaries accessing real time gross settlement of funds (RTGS) services, especially in rural areas; improve the timelines and quality of services and increase the number of beneficiaries receiving direct benefit transfers through Integrated Financial Management Services (IFMIS) platform.

In addition to the existing pipeline of proposed projects, the World Bank will support the Government of Jharkhands reform initiatives through technical and analytical work, and bring experience from other states and countries to address state specific challenges.

The World Bank Country Director travelled to villages in Block Angara in Ranchi district and interacted with rural households. He saw how women self-help groups had mobilized themselves to help increase their family income by undertaking farm and non-farm livelihood activities like animal husbandry, handicrafts and minor forestry activities.

World Bank in Jharkhand

Several World Bank supported national development programs, amounting to Rs 2,393 crores, are currently active in Jharkhand - covering irrigation, health, roads, livelihoods, rural water, sanitation and education sectors.

Recently, a US$ 63 million (approx. Rs 406.35 crore) Tejaswini Socioeconomic Empowerment of Adolescent Girls and Young Women in Jharkhand was signed with the state on February 23, 2017. The aim of the project is to help improve market-driven skills training and secondary education for adolescent girls and young women in select districts of Jharkhand.

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M&M moves north on brokerage rating
Apr 25,2017

Meanwhile, the S&P BSE Sensex was up 255.32 points or 0.86% at 29,911.16.

On the BSE, 15.34 lakh shares were traded on the counter so far as against the average daily volumes of 1.46 lakh shares in the past one quarter. The stock had hit a high of Rs 1,310 and a low of Rs 1,279.05 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,141.80 on 2 December 2016. It had underperformed the market over the past one month till 24 April 2017, sliding 0.9% compared with the Sensexs 0.8% rise. The scrip had also underperformed the market over the past one quarter, gaining 3.65% as against the Sensexs 8.33% rise.

As per reports, the brokerage has upgraded Mahindra & Mahindra (M&M) stock to outperform from neutral with increased target price at Rs 1,500 from Rs 1,390 earlier. The brokerage house cited potential for M&Ms tractor business that will surprise positively going ahead.

Reports suggested that the brokerage believes with number of state governments planning to introduce farm loan waivers, tractor demand could get further boost. The brokerage added that weakness in utility vehicle market already factored in by M&M.

M&Ms net profit rose 33.3% to Rs 1112.27 crore on 0.3% decline in net sales to Rs 10860.05 crore in Q3 December 2016 over Q3 December 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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ICICI Bank announces cessation of director
Apr 25,2017

ICICI Bank has announced the cessation of . S. Ramachandran, non-executive Director of the Bank on completion of tenure of eight years as prescribed under the Banking Regulation Act, 1949 effective 24 April 2017.

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Rachana Capital & Securities opens two branch offices
Apr 25,2017

Rachana Capital & Securities has opened two branch offices as per details given here in below :

1. Purchase & Processing office Post Office Nandeshma Gogunda, Pin Code : 313708 Dist.: Udaipur (Rajasthan) Customer Care No.: 7726991983 / 9768868773
2. Sales & Marketing Office 601/B, 6th Floor, Sahyog CHS Ltd., Near Poddar Shopping Center, S V Road, Kandivvali West, Mumbai 400 067 Phone :9619468938
Both the above branches will manage Companys new business venture of Aurvedic and Herbs.

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Asian Oilfield Services provides business update
Apr 25,2017

Asian Oilfield Services has successfully completed the mobilization of Crew and Equipment of 2 contracts (client details - Oil India and Bashneft International BV, Netherlands) totalling Rs. 111 crore approximately.

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IndusInd Bank allots 5,159 equity shares
Apr 25,2017

IndusInd Bank has allotted 5,159 (Five Thousand One Hundred Fifty Nine) equity shares of Rs. 10/- (Rupees Ten Only) each on 25 April 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme. The said shares will rank pari-passu with the existing shares of the Company in all respect.

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Zydus receives final approval for Olmesartan Medoxomil Tablets
Apr 25,2017

Zydus Cadila has received the final approval from the USFDA to market Olmesartan Medoxomil Tablets in strengths of 5 mg, 20 mg and 40 mg. This is a day one approval after the expiry of 181 day exclusivity. The drug is an anti-hypersensitive and will be produced at the groups formulations manufacturing facility at the Pharma SEZ in Ahmedabad.

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FDEC commences roll-out of Malaria demonstration project
Apr 25,2017

The Foundation for Disease Elimination and Control of India (FDECINDIA),Indian Council of Medical Research and Govt. of Madhya Pradesh on 25 April 2017 announced Phase 1 roll-out of Malaria demonstration project in Mandla, Madhya Pradesh.

This Phase will focus on community awareness and education programs among the community residents in Mandla. The launch was announced by Minister of State for Health Fagan Singh Kuleste at a function held in Kalpi Guest House to coincide with World Malaria Day.

The Foundation for Disease Elimination and Control of India (FDEC-INDIA) has been established by Sun Pharmaceutical Industries.

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Alembic Pharma rises after USFDA approvals for drugs
Apr 25,2017

The announcement was made during market hours today, 25 April 2017.

Meanwhile, the S&P BSE Sensex was up 241.56 points, or 0.81% to 29,897.40.

On the BSE, 12,483 shares were traded in the counter so far, compared with average daily volumes of 59,265 shares in the past one quarter. The stock had hit a high of Rs 629 and a low of Rs 605 so far during the day.

The stock had hit a 52-week high of Rs 709.30 on 23 March 2017. The stock had hit a 52-week low of Rs 517.90 on 24 June 2016.

It had underperformed the market over the past one month till 24 April 2017, gaining 0.51% compared with the Sensexs 0.8% rise. The scrip had also under performed the market over the past one quarter, advancing 3.37% as against the Sensexs 8.33% rise.

The large-cap company has equity capital of Rs 37.70 crore. Face value per share is Rs 2.

Alembic Pharmaceuticals announced that it has received final approvals from the United States Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Olmesartan Medoxomil Tablets, 5mg, 20mg and 40mg and Olmesartan Medoxomil with Hydrochlorothiazide Tablets 20/12.5 mg, 40/12.5 mg and 40/25 mg.

The approved ANDAs are therapeutically equivalent to the reference listed drug products (RLDs) Benicar Tablets 5mg, 20mg and 40 mg and Benicar HCT Tablets, 20/12.5 mg, 40/12.5 mg and 40/25 mg of Daiichi Sankyo Inc. The approved ANDAs are indicated for the treatment of hypertension.

Benicar and Benicar HCT had an estimated annual market size of $1.8 billion in US for twelve months ended 31 December 2016, according to IMS.

Alembic now has a total of 55 ANDA approvals (49 final approvals and 6 tentative approvals) from the USFDA.

On a consolidated basis, net profit of Alembic Pharmaceuticals declined 67.8% to Rs 86.55 crore on 15.9% decline in net sales to Rs 769.86 crore in Q3 December 2016 over Q3 December 2015.

Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, manufactures and markets generic pharmaceutical products all over the world.

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Board of Stanrose Mafatlal Investment & Fin. recommends final dividend
Apr 25,2017

Stanrose Mafatlal Investment & Fin. announced that the Board of Directors of the Company at its meeting held on 24 April 2017, inter alia, have recommended the final dividend of Rs 6 per equity Share (i.e. 60%) , subject to the approval of the shareholders.

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Board of Rallis India recommends special dividend
Apr 25,2017

Rallis India announced that the Board of Directors of the Company at its meeting held on 24 April 2017, inter alia, have recommended the special dividend of Rs 1.25 per equity Share (i.e. 125%) , subject to the approval of the shareholders.

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Rallis India to hold AGM
Apr 25,2017

Rallis India announced that the Annual General Meeting (AGM) of the company will be held on 23 June 2017.

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Board of UltraTech Cement recommends final dividend
Apr 25,2017

UltraTech Cement announced that the Board of Directors of the Company at its meeting held on 24 April 2017, inter alia, have recommended the final dividend of Rs 10 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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