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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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Central Bank of India vaults after fund raising proposal
Apr 13,2017

The announcement was made after market hours yesterday, 12 April 2017.

Meanwhile, the S&P BSE Sensex was down 41.34 points or 0.14% at 29,597.71

On BSE, so far 12,000 shares were traded in the counter as against average daily volumes of 6.93 lakh shares in the past one quarter. The stock hit a high of Rs 103.90 and a low of Rs 102.65 so far during the day. The stock had hit a 52-week high of Rs 112 on 20 June 2016. The stock had hit a 52-week low of Rs 73.10 on 24 May 2016.

The large-cap bank has equity capital of Rs 1902.17 crore. Face value per share is Rs 10.

Central Bank of Indias board of directors approved raising of equity capital by issuance and allotment of 5.59 crore equity shares at Rs 104.15 per share aggregating to Rs 583 crore to the government on a preferential basis.

Central Bank of India reported net loss of Rs 605.70 crore in Q3 December 2016, lower than net loss of Rs 836.62 crore in Q3 December 2015. Total income fell 1.79% to Rs 6787.87 crore in Q3 December 2016 over Q3 December 2015.

The Government of India holds 81.28% stake in Central Bank of India (as per the shareholding pattern as on 31 March 2017`).

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Minda Corporation gains after issuing commercial paper
Apr 13,2017

The announcement was made after market hours yesterday, 12 April 2017.

Meanwhile, the S&P BSE Sensex was down 49.28 points, or 0.17% at 29,594.20. The S&P BSE Small-cap index was up 78.85 points, 0.53% at 14,931.12.

On the BSE, 40,000 shares were traded on the counter so far as against the average daily volumes of 66,505 shares in the past one quarter. The stock had hit a high of Rs 115.50 and a low of Rs 111 so far during the day.

The stock had hit a record high of Rs 143.60 on 12 July 2016 and a 52-week low of Rs 85.50 on 22 November 2016. The stock had outperformed the market over the past one month till 12 April 2017, advancing 20.82% compared with the Sensexs 2.41% rise. The scrip had also outperformed the market over the past one quarter advancing 24.48% as against the Sensexs 8.79% rise.

The small-cap company has equity capital of Rs 41.86 crore. Face value per share is Rs 2.

Minda Corporation said it has issued commercial paper of Rs 25 crore on 11 April 2017. This is in line with the managements efforts to bring down the cost of the company. The commercial paper is having maturity date 10 July 2017.

Minda Corporations consolidated net profit fell 36.3% to Rs 20.10 crore on 9.7% increase in net sales to Rs 712.93 crore in Q3 December 2016 over Q3 December 2015.

Minda Corporation is a diversified company with a product portfolio encompassing from mechanical and electronic security system, electronic controllers for electric vehicles and for auto original equipment manufacturers (OEMs) across the globe. It also manufactures die casting parts for auto and consumer durable industry.

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Sterling Tools to hold EGM
Apr 13,2017

Sterling Tools announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 10 May 2017 .

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Piramal Phytocare to hold AGM
Apr 13,2017

Piramal Phytocare announced that the Annual General Meeting (AGM) of the company will be held on 23 May 2017.

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Adani Transmission jumps on bargain hunting
Apr 13,2017

Meanwhile, the S&P BSE Sensex was down 49.68 points, or 0.17% to 29,593.80.

On the BSE, 6.25 lakh shares were traded in the counter so far, compared with average daily volumes of 2.61 lakh shares in the past one quarter. The stock had hit a high of Rs 81.85 and a low of Rs 74.20 so far during the day.

The stock hit a record high of Rs 96 on 10 April 2017. The stock hit a 52-week low of Rs 28.35 on 20 May 2016.

The stock had outperformed the market over the past one month till 12 April 2017, rising 21.53% compared with 0.68% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 29.48% as against Sensexs 8.79% rise.

The mid-cap company has equity capital of Rs 1099.81 crore. Face value per share is Rs 10.

Shares of Adani Transmission fell 18.72% in two trading sessions to settle at Rs 76.20 yesterday, 12 April 2017, from its close of Rs 93.75 on 10 April 2017.

Adani Transmissions consolidated net profit jumped 32.8% to Rs 99.28 crore on 38.5% rise in net sales to Rs 729.22 crore in Q3 December 2016 over Q3 December 2015.

Adani Transmission is into power transmission business and is a part of business conglomerate Adani Group.

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Cabinet approves listing of 11 CPSEs on stock exchanges
Apr 13,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi has given its approval for listing of the following 11 CPSEs (Central Public Sector Enterprises) on stock exchanges:

1. Rail Vikas Nigam Limited (RVNL)

2. IRCON International

3. Indian Railway Finance Corporation (IRFC)

4. Indian Railway Catering and Tourism Corporation (IRCTC)

5. RITES

6. Bharat Dynamics Limited (BDL)

7. Garden Reach Shipbuilders & Engineers (GRSE)

8. Mazagon Dock Shipbuilders Limited (MDSL)

9. North Eastern Electric Power Corporation (NEEPCO)

10. MSTC

11. Mishra Dhatu Nigam (MIDHANI)

As approved, listing of CPSEs will be through public offer of shares upto 25% of Government of Indias shareholding, which may include offer of fresh shares for raising of resources from market. However, actual disinvestment in respect of each CPSE alongwith the mode of raising resources has been delegated for decision on a case to case basis to the Alternative Mechanism, headed by the Finance Minister.

The CCEA has also approved reservation of shares for the eligible employees of 11 CPSEs in accordance with the extant provisions of SEBI Regulations.

With a view to ensure wider participation by small investors in the CPSEs disinvestment program, a price discount upto 5% on the issue price has also been approved for the retail investors and eligible employees of 11 CPSEs participating in this offer.

From the economic and sectoral perspective, the decision to list 11 CPSEs on stock exchanges through public offer will have the following advantages for to the stakeholders:

i. Post-listing, value of a CPSE has the potential to be unlocked in multiples of book value of its equity with respective increase in their market capitalization. Once the book value of 11 CPSEs is discovered through the listing process, it will facilitate raising of resources by these companies at comparable cost and hence, achieve higher growth through their expansion/diversification. This will also be reflected in the performance at the sectoral level and overall economic growth.

ii. Listing of CPSEs will also promote people ownership by encouraging public participation in CPSEs. Reservation of shares not exceeding 5% of the post-issue capital for the eligible employees of 11 CPSEs, with the further decision to allocate shares to retail investors and employees of CPSEs at a price discount will ensure wider participation of small investors in the CPSEs disinvestment program.

iii. Listing of profitable CPSEs on the stock exchanges also triggers multilayered oversight mechanism, which not only enhances shareholders value but also promotes corporate governance norms in such companies. As per the listing requirements of SEBI/ Company Law/Stock Exchanges, CPSEs are required to comply with a number of mandatory disclosure requirements.

iv. With general public becoming the shareholder in the company through the listing route, the management is open to public scrutiny and thus become more accountable to its shareholders, as per the extant disclosure norms and compliance for listed CPSEs.

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Arshiya marches ahead after entering into partnership
Apr 13,2017

The announcement was made after market hours yesterday, 12 April 2017.

Meanwhile, the BSE Sensex was down 48.15 points, or 0.16%, to 29,595.33

On BSE, so far 68,000 shares were traded in the counter, compared with an average volume of 1.16 lakh shares in the past one quarter. The stock hit a high of Rs 81 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 78.40 so far during the day. The stock hit a 52-week low of Rs 16 on 13 June 2016.

The small-cap company has an equity capital of Rs 31.24 crore. Face value per share is Rs 2.

Arshiya entered into a binding term sheet with Ascendas Property Fund Trustee Pte (APFT), whereby APFT, in its capacity as Trustee-Manager of Ascendas India Trust, has agreed, subject to satisfactory duediligence, agreement on definitive documentation and obtaining necessary board approvals, to acquire 6 warehouses (totaling 8,32,000 sq.ft.) of Arshiya at its FreeTrade & Warehousing Zone (FTWZ) located at Panvel, near Mumbai.

The intended objective of Arshiya is to achieve an asset light model going forward, while Ascendas will potentially be getting a portfolio of income yielding Free Trade warehouses. The term sheet also envisages the financing of the future development on the available surplus land which has development potential of approx. 4 million sq.ft. within the existing notified area.

The indicative gross consideration envisaged is Rs 534 crore, to be paid in two tranches; Rs 434 crore upon signing of a definitive agreement and the balance Rs 100 crores to be paid over 4 years on achieving certain milestones. The majority of the monetization proceeds will be used by Arshiya for clearing a part of its dues to creditors and repayment of other liabilities post debt restructuring. All the six warehouses will be leased back under a master lease arrangement with Arshiya Group.

Arshiya has two revenue streams from its clients, one being from rent and the other from value added services in the ratio of approximately 1:1. Arshiya rental income would be significantly higher than the rental payout under the sale and lease back transaction and leave a surplus that would be retained by Arshiya. In addition, Arshiya would also benefit from the entire income from value added services.

On consolidated basis, Arshiya reported a net loss of Rs 95.01 crore in Q3 December 2016, higher than net loss of Rs 92.62 crore in Q3 December 2015. Net sales fell 6.35% to Rs 64.35 crore in Q3 December 2016 over Q3 December 2015.

Arshiya operates two Free Trade & Warehousing Zone (FTWZ) in Panvel, near Mumbai (160 acres) and at Khurja, near Delhi (325 acres), where it also operates Indias largest Logistic park with unique integrated solution providing capability consisting - FTWZ, ICD, Rail & Rail Terminal and Domestic Warehousing.

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Brahmaputra Infrastructure announces resignation of director
Apr 13,2017

Brahmaputra Infrastructure announced the resignation of Rajesh Singh from Whole Time Directorship along with the Chairmanship and membership of all the Committees of the Company with effect from 10 April 2017.

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Infosys declines after Q4 results; FY18 guidance disappoints
Apr 13,2017

Meanwhile, the S&P BSE Sensex was down 36 points, or 0.12% to 29,607.48.

On the BSE, 5 lakh shares were traded in the counter so far, compared with average daily volumes of 2.56 lakh shares in the past one quarter. The stock had hit a high of Rs 990.95 and a low of Rs 941.40 so far during the day.

The stock hit a 52-week high of Rs 1,278 on 3 June 2016. The stock hit a 52-week low of Rs 900.30 on 9 November 2016.

The stock had underperformed the market over the past one month till 12 April 2017, falling 6.40% compared with 0.68% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.12% as against Sensexs 8.79% rise.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys consolidated net profit fell 2.8% to Rs 3603 crore on 0.9% decline in revenues to Rs 17120 crore in Q4 March 2017 over Q3 December 2016. Consolidated operating profit fell 2.8% to Rs 4212 crore in Q4 March 2017 over Q3 December 2016.

Consolidated net profit rose 6.4% to Rs 14353 crore on 9.7% rise in revenues to Rs 68484 crore in the year ended March 2017 over the year ended March 2016. Operating profit rose 8.2% to Rs 16901 crore in the year ended March 2017 over the year ended March 2016. The result is as per International Financial Reporting Standards (IFRS).

The board of the company has identified that to pay up to Rs 13000 crore, or $2 billion, to shareholders via dividend or share buyback in Financial Year ending March 2018 (FY18). The board announced a final dividend of Rs 14.75 per share for the financial year ended 31 March 2017.

The company said its consolidated revenue is expected to grow 6.5%-8.5% in constant currency terms in the fiscal year ending 31 March 2018, under IFRS.

The company said its revenue is expected to grow 2.5%-4.5% in Rupee terms in the fiscal year ending 31 March 2018, under IFRS, based on the exchange rates as of 31 March 2017.

The company said its revenue is expected to grow 6.1%-8.1% in Dollar terms in the fiscal year ending 31 March 2018, under IFRS, based on the exchange rates as of 31 March 2017.

Liquid assets including cash & cash equivalents and investments at Rs 38773 crore as on 31 March 2017.

Infosys CEO, Dr. Vishal Sikka, said that unanticipated execution challenges and distractions in a seasonally soft quarter affected the companys overall performance. At the same time, Infosys continued to see many positive signs of its strategy execution; its software-led offerings continued to show strong momentum and client success, with continued adoption of Mana, our AI platform; Zero Distance marked its 2-year anniversary as a grassroots cultural movement for innovation with IFRS - INR strong client resonance, and the companys employee engagement continued to drive down attrition, especially with top performers.

Attrition declined during the quarter reflecting the companys focus on better employee engagement. Utilization during Q4 reached 82% which is the highest in Q4 over the past several years, said U. B. Pravin Rao, COO.

In FY2017, operating margins were steady as the company continued its sharp focus on operational efficiencies. Cash provided by operating activities during the year was robust and exceeded $2 billion, a new high, said M. D. Ranganath, CFO. The companys capital allocation policy is aimed at balancing the strategic and operational needs of the company as well as enhancing shareholder returns.

Infosys is a global leader in technology services and consulting.

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Lloyds Metals & Energy reports standalone net profit of Rs 5.14 crore in the March 2017 quarter
Apr 13,2017

Net profit of Lloyds Metals & Energy reported to Rs 5.14 crore in the quarter ended March 2017 as against net loss of Rs 2.63 crore during the previous quarter ended March 2016. Sales rose 17.45% to Rs 96.10 crore in the quarter ended March 2017 as against Rs 81.82 crore during the previous quarter ended March 2016.

For the full year,net profit rose 736.11% to Rs 6.02 crore in the year ended March 2017 as against Rs 0.72 crore during the previous year ended March 2016. Sales rose 10.19% to Rs 383.84 crore in the year ended March 2017 as against Rs 348.34 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales96.1081.82 17 383.84348.34 10 OPM %13.2311.07 -3.973.79 - PBDT8.966.05 48 18.9917.60 8 PBT5.143.60 43 6.026.95 -13 NP5.14-2.63 LP 6.020.72 736

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Infosys consolidated net profit rises 0.17% in the March 2017 quarter
Apr 13,2017

Net profit of Infosys rose 0.17% to Rs 3603.00 crore in the quarter ended March 2017 as against Rs 3597.00 crore during the previous quarter ended March 2016. Sales rose 3.44% to Rs 17120.00 crore in the quarter ended March 2017 as against Rs 16550.00 crore during the previous quarter ended March 2016.

For the full year,net profit rose 6.41% to Rs 14353.00 crore in the year ended March 2017 as against Rs 13489.00 crore during the previous year ended March 2016. Sales rose 9.68% to Rs 68484.00 crore in the year ended March 2017 as against Rs 62441.00 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales17120.0016550.00 3 68484.0062441.00 10 OPM %27.0628.02 -27.1227.35 - PBDT5379.005410.00 -1 21654.0020199.00 7 PBT4933.004991.00 -1 19951.0018740.00 6 NP3603.003597.00 0 14353.0013489.00 6

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Infosys standalone net profit rises 5.04% in the March 2017 quarter
Apr 13,2017

Net profit of Infosys rose 5.04% to Rs 3562.00 crore in the quarter ended March 2017 as against Rs 3391.00 crore during the previous quarter ended March 2016. Sales rose 5.38% to Rs 14920.00 crore in the quarter ended March 2017 as against Rs 14158.00 crore during the previous quarter ended March 2016.

For the full year,net profit rose 8.86% to Rs 13818.00 crore in the year ended March 2017 as against Rs 12693.00 crore during the previous year ended March 2016. Sales rose 9.83% to Rs 59289.00 crore in the year ended March 2017 as against Rs 53983.00 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales14920.0014158.00 5 59289.0053983.00 10 OPM %29.4030.00 -29.0229.10 - PBDT5119.005020.00 2 20269.0018715.00 8 PBT4783.004705.00 2 18938.0017600.00 8 NP3562.003391.00 5 13818.0012693.00 9

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Richa Industries receives order worth Rs 35 crore
Apr 13,2017

Richa Industries has received an order worth Rs 35 crore from Delhi Metro Rail Corporation for construction of six elevated metro stations on Mukundpur-Shiv Vihar corridor and depot cum workshop of Jahangirpuri - Badli corridor phase III of Delhi MRTS.

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Infosys slips after weak Q4 outcome
Apr 13,2017

The result was announced before market hours today, 13 April 2017. The result is as per International Financial Reporting Standards (IFRS).

Meanwhile, the S&P BSE Sensex was down 62.22 points, or 0.21% to 29,581.26.

On the BSE, 3.99 lakh shares were traded in the counter so far, compared with average daily volumes of 1.99 lakh shares in the past two weeks. The stock had hit a high of Rs 990.95 and a low of Rs 941.40 so far during the day.

The stock hit a 52-week high of Rs 1,278 on 3 June 2016. The stock hit a 52-week low of Rs 900.30 on 9 November 2016.

Infosys consolidated operating profit fell 2.8% to Rs 4212 crore in Q4 March 2017 over Q3 December 2016.

Infosys consolidated net profit rose 6.4% to Rs 14353 crore on 9.7% rise in revenues to Rs 68484 crore in the year ended March 2017 over the year ended March 2016. Operating profit rose 8.2% to Rs 16901 crore in the year ended March 2017 over the year ended March 2016.

Infosys is one of the leading information technology outsourcing services providers. The company provides business consulting, information technology and outsourcing services.

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Outcome of board meeting of Infosys
Apr 13,2017

The Board of Director of Infosys at its meeting held on 12-13 April 2017 approved the appointment of Ravi Venkatesan, Independent Director as the Co-Chairman of the Board. The Board has recommended a final dividend of Rs 14.75 per equity share for financial year ended 31 March 2017. The dividend will be paid on 27 June 2017.

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