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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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Quess Corp consolidated net profit rises 79.37% in the December 2016 quarter
Jan 24,2017

Net profit of Quess Corp rose 79.37% to Rs 30.96 crore in the quarter ended December 2016 as against Rs 17.26 crore during the previous quarter ended December 2015. Sales rose 13.26% to Rs 1026.60 crore in the quarter ended December 2016 as against Rs 906.43 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1026.60906.43 13 OPM %5.484.41 - PBDT50.1433.26 51 PBT43.1530.51 41 NP30.9617.26 79

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Tata Communications reports standalone net profit of Rs 1482.71 crore in the December 2016 quarter
Jan 24,2017

Net profit of Tata Communications reported to Rs 1482.71 crore in the quarter ended December 2016 as against net loss of Rs 11.58 crore during the previous quarter ended December 2015. Sales rose 9.13% to Rs 1318.62 crore in the quarter ended December 2016 as against Rs 1208.26 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1318.621208.26 9 OPM %23.1324.11 - PBDT461.73151.95 204 PBT273.55-36.58 LP NP1482.71-11.58 LP

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Chennai Petroleum hits 52-week high after stellar Q3 earnings
Jan 24,2017

The result was announced after market hours yesterday, 23 January 2017.

Meanwhile, the S&P BSE Sensex was up 129.24 points or 0.48% at 27,246.58.

On the BSE, 3.82 lakh shares were traded on the counter so far as against the average daily volumes of 95,717 shares in the past one quarter. The stock had hit a high of Rs 360 so far during the day, which is its 52-week high. The stock hit a low of Rs 342.05 so far during the day.

The stock had hit a 52-week low of Rs 138 on 11 February 2016. The stock had outperformed the market over the past one month till 23 January 2017, advancing 26.56% compared with the Sensexs 4.13% rise. The scrip had also outperformed the market over the past one quarter, gaining 15.41% as against the Sensexs 3.42% fall.

The mid-cap company has equity capital of Rs 149 crore. Face value per share is Rs 10.

State-run public sector oil marketing firm Indian Oil Corporation (IOC) holds 51.89% stake in Chennai Petroleum Corporation as per the shareholding pattern as on 31 December 2016.

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Tata Communications spurts after strong Q3 results
Jan 24,2017

The result was announced after market hours yesterday, 23 January 2017.

Meanwhile, the BSE Sensex was up 126.80 points, or 0.47%, to 27,244.14.

On the BSE, so far 1.94 lakh shares were traded in the counter, compared with average daily volumes of 71,598 shares in the past one quarter. The stock had hit a high of Rs 711.50 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 672.20 so far during the day.

The stock hit a 52-week low of Rs 325.70 on 29 February 2016. The stock had outperformed the market over the past 30 days till 23 January 2017, rising 7.47% compared with the 4.13% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.81% as against Sensexs 3.47% decline.

The large-cap company has equity capital of Rs 285 crore. Face value per share is Rs 10.

Contribution from an exceptional onetime gain from the stake sale of the India Data Centre (Rs 2138 crore) was partly offset by the impairment (Rs 250 crore) on account of the South African subsidiary - Neotel.

Tata Communications consolidated earnings before interest, tax, depreciation and amortization (EBITDA) fell 3.7% to Rs 722 crore in Q3 December 2016 over Q3 December 2015.

Quarterly revenue and EBITDA growth were impacted by the exclusion of the India data centre revenue with effect from 19 October 2016 and also a couple of regulatory changes that led to modifications in access facilitation agreements and the demonetisation drive which affected the payment solutions business.

On 19 October 2016, Tata Communications completed the sale of India data center business by selling 74% shareholding in Tata Communications Data Centers (TCDC) for cash consideration of Rs 1796.78 crore resulted into gain on sale of subsidiary of Rs 2137.77 crore (including Rs 584.54 crore on re-measurement of remaining 26% shareholding), which is disclosed as exceptional items for the quarter and nine months ended 31 December 2016.

Tata Communications is a leading global provider of A New World of Communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.

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Trent surges after reporting good Q3 results
Jan 24,2017

The result was announced after market hours yesterday, 23 January 2017.

Meanwhile, the BSE Sensex was up 140.78 points, or 0.52%, to 27,258.12.

A spurt in volume was witnessed on the counter. On the BSE, 1.15 lakh shares were traded on the counter so far as against the average daily volumes of 25,592 shares in the past one quarter. The stock had hit a high of Rs 227.20 and a low of Rs 214.80 so far during the day.

The stock had hit a record high of Rs 256.80 on 12 September 2016 and a 52-week low of Rs 134.81 on 12 February 2016. The stock had outperformed the market over the past one month till 23 January 2017, advancing 7.44% compared with the Sensexs 4.13% rise. The scrip had also outperformed the market over the past one quarter gaining 2.21% as against the Sensexs 3.42% fall.

The mid-cap company has equity capital of Rs 33.23 crore. Face value per share is Rs 1.

Trent, a retail arm of the Tata group, operates retail chain Westside and bookstore chain Landmark in various locations of India. Trent also operates the hypermarket Star Bazaar in major cities.

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Globe Industrial Resources to announce Q3 and 9M results
Jan 24,2017

Globe Industrial Resources announced that a meeting of the Board of Directors of the Company is proposed to be held on 03 February 2017, inter alia, to consider and approve the following:

- Unaudited Financial Results of the company for the Quarter and nine months ended 31 December 2016.

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Board of First Custodian Fund(I) to consider Q3 and 9M results
Jan 24,2017

First Custodian Fund(I) announced that the Board of Directors of the Company at its meeting to be held on 14 February 2017 will consider and approve the unaudited financial results for the quarter and nine months ended 31 December 2016.

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USG Tech Solutions to consider December quarter results
Jan 24,2017

USG Tech Solutions announced that the Board meeting of the Company is scheduled to be held on 28 January 2017, inter alia, to consider and approve the following business(s):

- The Unaudited results of the Company for the quarter and nine months ended 31 December 2016.

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Board of Mahamaya Steel Industries to consider December quarter results
Jan 24,2017

Mahamaya Steel Industries announced that the meeting of the Board of Directors of the Company will be held on 01 February 2017 to consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Board of Lambodhara Textile to consider Q3 and 9M results
Jan 24,2017

Lambodhara Textile announced that a meeting of the Board of Directors of the Company will be held on 10 February 2017 to consider and take on record the Unaudited Financial Results of the Company for the Quarter and nine months ended 31 December 2016.

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Sona Koyo Steering Systems to announce December quarter results
Jan 24,2017

Sona Koyo Steering Systems announced that meeting of the Board of Directors of the Company will be held on 10 February 2017, inter-alia, to consider and approve the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 31 December 2016.

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HCL Technologies provides business update
Jan 24,2017

HCL Technologies announced that UBS AG, the Swiss global financial services company, renewed its Finance Operations services contract with the Company. HCL will continue to deliver key Finance Operations services to UBS AG, supporting cost transparency and continuous improvements to the operating model of its finance department for the next three and half years.

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Cyient acquires US based Certon Software Inc.
Jan 24,2017

Cyient announced that Cyient Inc., USA, a wholly owned subsidiary of the company, has signed a definitive agreement to acquire 100% equity in Certon Software Inc., Melbourne, Florida, USA, in an all cash transaction. This transaction will further strengthen the automation in its key vertical Aerospace and Defense in line with strategy for growth.

Certon Software was incorporated in 2006 and it performs independent verification and validation services to firms seeking certification for safety critical systems, embedded software and electronic hardware.

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HCL Tech declines after marginal rise in profitability in Q3
Jan 24,2017

The result was announced before market hours today, 24 January 2017.

Meanwhile, the S&P BSE Sensex was up 107.72 points or 0.4% at 27,225.06.

On the BSE, 92,000 shares were traded on the counter so far as against the average daily volumes of 85,776 shares in the past one quarter. The stock had hit a high of Rs 853.40 and a low of Rs 831 so far during the day.

The stock had hit a 52-week high of Rs 889.80 on 1 February 2016 and a 52-week low of Rs 706.50 on 11 May 2016. The stock had outperformed the market over the past one month till 23 January 2017, advancing 7.94% compared with the Sensexs 4.13% rise. The scrip had also outperformed the market over the past one quarter, gaining 3.14% as against the Sensexs 3.42% fall.

The large-cap company has equity capital of Rs 282.24 crore. Face value per share is Rs 2.

HCL Technologies (HCL Tech) consolidated revenue in constant currency grew by 3% in Q3 December 2016 over Q2 September 2016.

The company expects its FY 2017 revenue to grow in the middle of 12% to 14% range which it had guided earlier.

C Vijayakumar, President & CEO, HCL Tech said, the richness in the companys offerings coupled with its Mode 1-2-3 growth strategy is helping it gain a higher share in its clients wallet reflected in the increasing revenue contribution from its top 5, top 10 and top 20 customers.

Anil Chanana, CFO, HCL Tech said that shareholder returns have been healthy. For the last twelve months ended 31 December 2016, return on equity is at 28% while dividend pay-out is 50%.

Separately, HCL Tech before market hours today, 24 January 2017 said that UBS AG, the Swiss global financial services company, renewed its finance operations services contract with the company. HCL will continue to deliver key finance operations services to UBS AG, supporting cost transparency and continuous improvements to the operating model of its finance department for the next three and half years.

HCL has been working with UBS AG since 2012, providing integrated process and technology management in an end-to-end global shared services model.

HCL Technologies board has re-appointed Shiv Nadar, Chairman & Chief Strategy Officer of the company as the Managing Director of the company for a period of 5 years from 1 February 2017, subject to the approval of the shareholders.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.

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Cyient jumps after acquisition
Jan 24,2017

The announcement was made during trading hours today, 24 January 2017.

Meanwhile, the BSE Sensex was up 131.09 points, or 0.48%, to 27,248.43.

On the BSE, so far 4,922 shares were traded in the counter, compared with average daily volumes of 11,161 shares in the past one quarter. The stock had hit a high of Rs 492.60 and a low of Rs 468.05 so far during the day.

The stock hit a 52-week high of Rs 555 on 13 October 2016. The stock hit a 52-week low of Rs 370.50 on 12 February 2016. The stock had underperformed the market over the past 30 days till 23 January 2017, falling 3.89% compared with the 4.13% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.52% as against Sensexs 3.47% decline.

The mid-cap company has equity capital of Rs 56.28 crore. Face value per share is Rs 5.

Cyient said that its wholly-owned subsidiary, Cyient Inc., USA, signed a definitive agreement to acquire 100% equity in Certon Software Inc., Melbourne, Florida, USA, in an all cash transaction. This transaction will further strengthen the automation in its key vertical aerospace and defense in line with strategy for growth.

The transaction is likely to conclude in the next 30 days. Cyient will pay $7.5 million on a cash free and debt free basis, subject to closing adjustments. It will also pay deferred payment and earn out based on future performance.

Certon Software Incs current runrate is $6 million and has approximately 45 employees. It was incorporated in 2006 and it performs independent verification and validation services to firms seeking certification for safety-critical systems, embedded software, and electronic hardware. It reported a revenue of $6.2 million in calender year 2014 and $7.3 milIion in in calender year 2015. The entity has presence in United states of America.

On a consolidated basis, Cyients net profit fell 3.18% to Rs 94.16 crore on 0.37% increase in net sales to Rs 917.06 crore in Q3 December 2016 over Q2 September 2016.

Cyient is an acknowledged leader in engineering design services, design-led manufacturing, networks and operations, data transformation, and analytics. Its industry focus includes aerospace, defense, rail transportation, off-highway & industrial, power generation, mining, oil & gas, communications, utilities, geospatial, semiconductor and medical technology.

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