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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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Noble Polymers to announce December quarter results
Jan 23,2017

Noble Polymers announced the meeting of the Board of Directors of the Company is scheduled to be held on 01 February 2017, for approval of Unaudited financial results as on 31 December 2016.

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Prerna Infrabuild to consider conversion of warrants
Jan 23,2017

Prerna Infrabuild announced that a meeting of Board of Directors is on 28 January 2017, to consider, to convert 390,000 Warrants into Equity Shares.

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Sugal & Damani Share Brokers to consider Q3 and 9M results
Jan 23,2017

Sugal & Damani Share Brokers announced that the meeting of the Board of Directors of the Company will be held on 03 February 2017, inter alia, to consider, approve and take on record the Unaudited Financial Results for the Third Quarter and Nine Months ended 31 December 2016.

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Asia Pacific Market: Stocks fluctuate on Trump protectionist stance
Jan 23,2017

Asia Pacific share market closed mixed on Monday, 23 January 2017, following inaugural words from US President Donald Trump on Friday which signally failed to address market concerns about his administrations policy path and signaled an isolationist stance on trade and other issues. Trump also made it clear that he plans to hold talks with the leaders of Canada and Mexico to begin renegotiating the North American Free Trade Agreement.

Trump sounded protectionist as he pledged to end what he called an American carnage of rusted factories and vowed to put America first. Trump also intends to withdraw from the 12-nation Trans-Pacific Partnership (TPP) trade pact and is planning to renegotiate the North American Free Trade Agreement (NAFTA).

President Donald Trump prepared to sign executive orders on Monday to withdraw the U.S. from the Trans-Pacific Partnership trade deal and renegotiate the North American Free Trade Agreement, according to media reports. Investors have been looking for details on campaign-trail promises to boost growth and government spending. Investors are also looking at how the Trump presidency will affect trade in Asia, particularly China.

Among Asian bourses

Australia Market falls as Brambles profit warning, Trump speech

Australian share market finished session steep lower, pulled down by a Brambles profit warning as well as general unease following the inauguration of the new US President. At the closing bell, the benchmark S&P/ASX 200 index declined 43.80 points, or 0.77%, to 5611, while the broader All Ordinaries index dropped 41.70 points, or 0.73%, to close at 5668.

Industrial sector was the worst performer as Brambles dived to its lowest in more than 11 months to close down 15.8% at A$10.34 after supply-chain Logistics Company said its annual constant-currency sales revenue and underlying profit growth would be below its current guidance range. Brambles said that, taking into account currency fluctuations - 60% of the groups revenue is generated in currencies other than the US dollar - it expects first-half sales revenue will be up 5% and underlying profit will be up 3%. The supply chain logistics group said that in light of those results it expects full-year results to be below its previous guidance range of 7 to 9% for sales revenue and 9-11% for underlying profit.The sell-off pushed other industrials, as Monadelphous lost 3.5% and Downer EDI fell 2.2%.

Healthcare stocks moved into the red with shares of CSL posting their biggest%age loss in more than a week, as traders were booking some profit from CSL after it rose quite significantly in the last two sessions.

Bucking the trend were gold miners as investors sought the precious metals safe haven status. Evolution Mining was the top gainer among the biggest 200 stocks, rising 3.2%, while Newcrest added 1.7%.

Japan Stocks fall on stronger yen, Trump protectionist trade views

The Japan share market settled down, as risk sentiments dented on a stronger yen and on concern over U.S. President Donald Trumps protectionist trade views. The key 225-issue Nikkei Stock Average lost 246.88 points, or 1.29%, to close at 18,891.03, while the Topix index of all first-section issues shed 1.23%, or 18.83 points, to 1,514.63.

Japanese exporters stocks declined as the yen fell against the greenback and other major currencies. A stronger yen hurts Japanese exporters as it makes their products more expensive abroad and reduces the value of repatriated profits. Toyota Motor fell 1.63%, Honda Motor lost 1.72%, while Sony was off 1.15% and Panasonic was down 1.62%. Toshiba shares surged 9%, after several media reports that it is in the midst of preparing for the sale of its semiconductor business.

Insurers were also down as Japanese government bond yields declined after U.S. Treasury yields lost their recent upward momentum. Dai-ichi Life Holdings Inc. lost 1.7% to Y2,029.0. T&D Holdings Inc. fell 1.7% to Y1,608.0.

Airbag maker Takata Corp. fell 18% to Y467, the lower limit of the daily trading range, amid continued concerns about possible legal liquidation. The shares lost 47% last week.

Sharp Corp. rose 2.7% to Y305 following news that its parent and electronics manufacturer Foxconn Technology Group is considering investing $7 billion to build a flat-panel screen factory in the U.S.

China Stocks end at 2-week high

Mainland China stock market ended at a two-week high, as market sentiment received a modest boost after the Peoples Bank of China injected a record amount of cash last week into the banking system to ease the liquidity squeeze before the Lunar New Year holidays. Market gains were, however, limited as investors were reluctant to stake out fresh positions ahead of the week-long Chinese New Year holiday. Most sectors were largely unchanged but gains were led by the materials sector, underpinned by a broadly weaker U.S. dollar. The blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, was up 0.27% to close at 3,364.08. The Shanghai Composite Index added 0.44% to close at 3,136.77. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.87% to 1902.14. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 0.35% to 1,887.32 points.

To ease the liquidity squeeze, the Peoples Bank of China injected a net 1.19 trillion yuan into the money market last week, the highest weekly net injection on record. The Peoples Bank of China said on Friday it would provide temporary liquidity support for 28 days to several major banks to address seasonal liquidity stress ahead of the Lunar New Year, a new policy tool designed to ease cash shortages. The stock market will be closed from Jan. 27 to Feb 2.

National defence-related shares surged after Beijing announced on Sunday that President Xi Jinping would head a new commission overseeing joint military and civilian development. Beijing BDStar Navigation was suspended from trading after rising by the 10% daily limit to 30.57 yuan. Xian Tian He Defense Technology also soared 10% to close at 26.49 yuan.

Chengdu CORPRO Technology Co. rose 7% in Shenzhen after the China Securities Journal reported that the Ministry of Transport plans to increase use of the companys navigation satellite system

Hang Seng notches slight gains

The Hong Kong stock market notched slight gains, fuelled by Wall Streets rally last Friday following the inauguration of US president Donald Trump. But gains were limited as investors waited to see how U.S. President Donald Trumps protectionist policies influence relations between the worlds two largest economies. Shares of baby formula manufacturers and dairy shares posted strong gains on reports Number of new babies born in 2016 was increased noticeably. The Hang Seng Index added 0.06% or 12.61 points to close at 22,898.52. The Hang Seng China Enterprises index, or the H-share index, rose 0.11% or 11.10 points to 9,726.82. Turnover was unchanged from Friday at HK$56.1 billion.

Shares of baby formula manufacturers and dairy shares posted strong gains, after China announced that births in 2016 increased to 17.86 million, up significantly from the yearly average of 1.4 million from 2011 to 2015, marking the highest level since 2000, thanks to the n++two-childn++ policy. Statistics from the National Health and Family Planning Commission showed that second born children accounted for more than 45% of the total births in 2016. Yashili International Holdings, the countrys top baby formula maker, surged 9.7% to close at HK$1.58, the best closing level in more than a month. China Mengniu Dairy Company advanced 1.6% to HK$14.22. Diaper maker Hengan International also rose 1.4% to HK$59.8.

China Shenhua (01088) rose 1% to HK$15.88 after the company said its 2016 coal sales jumped 6.6%. China Coal (01989) climbed 1.8% to HK$3.87.

Sensex manages to hold above 27,000 amid volatility

Indian benchmark indices logged steady gains amid intraday volatility on first day of the week led by gains in index heavyweights ITC and HDFC. The barometer index, the S&P BSE Sensex, rose 82.84 points or 0.31% to settle at 27,117.34. The Nifty 50 index gained 42.15 points or 0.5% to settle at 8,391.50.

FMCG major, Hindustan Unilever (HUL) gained 0.25%. The companys net profit rose 6.82% to Rs 1037.93 crore on 1.51% decline in total income to Rs 8400.38 crore in Q3 December 2016 over Q3 December 2015. The announcement was made after market hours today, 23 January 2017.

RBL Bank jumped 5.65% after net profit rose 58.78% to Rs 128.69 crore on 38.98% growth in total income to Rs 1143.48 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours on Friday, 20 January 2017.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was up 0.3% to 7067.85. South Koreas KOSPI index added 0.02% to 2065.99. Taiwans Taiex index added 1% to 9424.05. Malaysias KLCI jumped 0.4% to 1671.31. Indonesias Jakarta Composite index fell 0.1% to 5250.97. Singapores Straits Times index grew 0.5% to 3025.48.

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Hang Seng notches slight gains
Jan 23,2017

The Hong Kong stock market notched slight gains on Monday, 23 January 2017, fuelled by Wall Streets rally last Friday following the inauguration of US president Donald Trump. But gains were limited as investors waited to see how U.S. President Donald Trumps protectionist policies influence relations between the worlds two largest economies. Shares of baby formula manufacturers and dairy shares posted strong gains on reports Number of new babies born in 2016 was increased noticeably. The Hang Seng Index added 0.06% or 12.61 points to close at 22,898.52. The Hang Seng China Enterprises index, or the H-share index, rose 0.11% or 11.10 points to 9,726.82. Turnover was unchanged from Friday at HK$56.1 billion.

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China Stocks end at 2-week high
Jan 23,2017

Mainland China stock market ended at a two-week high on Monday, 23 January 2017, as market sentiment received a modest boost after the Peoples Bank of China injected a record amount of cash last week into the banking system to ease the liquidity squeeze before the Lunar New Year holidays. Market gains were, however, limited as investors were reluctant to stake out fresh positions ahead of the week-long Chinese New Year holiday. Most sectors were largely unchanged but gains were led by the materials sector, underpinned by a broadly weaker U.S. dollar. The blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, was up 0.27% to close at 3,364.08. The Shanghai Composite Index added 0.44% to close at 3,136.77. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.87% to 1902.14. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 0.35% to 1,887.32 points.

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Japan Stocks fall on stronger yen, Trump protectionist trade views
Jan 23,2017

The Japan share market settled down on Monday, 23 January 2017, as risk sentiments dented on a stronger yen and on concern over U.S. President Donald Trumps protectionist trade views. The key 225-issue Nikkei Stock Average lost 246.88 points, or 1.29 percent, to close at 18,891.03, while the Topix index of all first-section issues shed 1.23%, or 18.83 points, to 1,514.63.

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Australia Market falls as Brambles profit warning, Trump speech
Jan 23,2017

Australian share market finished session steep lower on Monday, 23 January 2017, pulled down by a Brambles profit warning as well as general unease following the inauguration of the new US President. At the closing bell, the benchmark S&P/ASX 200 index declined 43.80 points, or 0.77%, to 5611, while the broader All Ordinaries index dropped 41.70 points, or 0.73%, to close at 5668.

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FPIs buying momentum ebbs
Jan 23,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 32.56 crore from the secondary equity markets on Friday, 20 January 2017, compared with net inflow of Rs 247.08 crore during the preceding trading session on Thursday, 19 January 2017. The net inflow of Rs 32.56 crore on 20 January 2017 was a result of gross purchases of Rs 4540.34 crore and gross sales of Rs 4507.78 crore. On that day, the Sensex shed 274.10 points or 1% to settle at 27,034.50, its lowest closing level since 10 January 2017.

There was a net inflow of Rs 0.73 crore into the category primary market & others on 20 January 2017, which was a result of gross purchases of Rs 2.09 crore and gross sales of Rs 1.36 crore.

FPIs have sold stocks worth a net Rs 3291.80 crore in January 2017 so far (till 20 January 2017). They had sold stocks worth a net Rs 8960.36 crore into the secondary equity markets in December 2016. FPIs had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There has been a net inflow of Rs 70.06 crore from FPIs from the category primary market & others in January 2017 so far (till 20 January 2017). There was a net inflow of Rs 784.07 crore from FPIs into the category primary market & others in December 2016. The net inflow from FPIs into category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Tejnaksh Healthcare intimates of change in website
Jan 23,2017

Tejnaksh Healthcare has changed of website address form www.tejurology.com to www.tejnaksh.com

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Garden Silk Mills announces demise of director
Jan 23,2017

Garden Silk Mills announced that Arunchandra N. Jariwala, an Independent Director of the Company passed away on 21 January 2017.

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NRB Bearings announces change in directorate
Jan 23,2017

NRB Bearings announced that the Board by Circular Resolution dated 23 January 2017 has appointed:

1. Rustom Desai as an Additional Director on the Board of the Company in the category of a Non- Executive and Independent Director w.e.f. 23 January 2017 upto the date of the next Annual General Meeting;

2. Satish C Rangani as an Additional Director on the Board of the Company in the category of a Whole -Time Director, designated Executive and Company Secretary w.e.f. 24 January 2017 upto the date of the next Annual General Meeting;

Rustom Desai will also be a member of the Nomination & Remuneration Committee and Risk & Business Strategy Committee.

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Mukta Arts bring New Excelsior under its brand Mukta A2 Cinemas
Jan 23,2017

Mukta Arts has bought the prestigious South Mumbai Cinema New Excelsior under its Mukta A2 Cinemas brand through its newly formed wholly owned subsidiary, Mukta A2 Cinemas.

The renovation of the theatre is complete and its is expected to open very soon. This brings the screen count of Mukta A2 Cinemas at 50.

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Suven Life Sciences secures product patent form Australia
Jan 23,2017

Suven Life Sciences has been granted one (1) product patent from Australia (2013382944) corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and the Patent is valid through 2033.

The granted claims of the patents are from the mechanism of action include the class of selective 5HT4 compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders likeAlzheimers disease, Attention deficient hyperactivity disorder (ADHD), Huntingtons disease, Major Depressive disorder (MDD), Parkinson and Schizophrenia.

With these new patents, Suven has a total of twenty five (25) granted patents from Australia. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II.

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Industrial & Prudential Investment Company to announce Q3 results
Jan 23,2017

Industrial & Prudential Investment Company announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider and approve the Standalone Unaudited Financial Results of the Company for the third quarter ended 31 December 2016.

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