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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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Sai Jeevadhara Finance to hold board meeting
Jul 17,2017

Sai Jeevadhara Finance will hold a meeting of the Board of Directors of the Company on 20 July 2017 Audited Results for the year ended 31st March 2017.

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Adani Power to hold AGM
Jul 17,2017

Adani Power announced that the 21th Annual General Meeting(AGM) of the company on 10 August 2017.

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Indian Metals surges after turnaround in Q1
Jul 17,2017

The result was announced during the market hours today, 17 July 2017.

Meanwhile, the S&P BSE Sensex was up 83.55 points, or 0.26% at 32,104.30. The S&P BSE Small-Cap index was up 16.11 points, or 0.1% at 15,924.12.

High volumes were witnessed on the counter. On the BSE, 54,000 shares were traded on the counter so far as against the average daily volumes of 21,251 shares in the past one quarter. The stock had hit a high of Rs 565.35 and a low of Rs 538 so far during the day. The stock had hit a 52-week high of Rs 823 on 21 March 2017 and a 52-week low of Rs 134 on 27 July 2016.

The stock had outperformed the market over the past one month till 14 July 2017, advancing 38.94% compared with the Sensexs 2.78% rise. The scrip had, however, underperformed the market over the past one quarter sliding 7.47% as against the Sensexs 8.69% rise. The scrip had, however, outperformed the market over the past one year advancing 286.4% as against the Sensexs 14.6% rise.

The small-cap company has equity capital of Rs 26.98 crore. Face value per share is Rs 10.

Indian Metals & Ferro Alloyss total income rose 71.3% to Rs 438.97 crore in Q1 June 2017 over Q1 June 2016.

Indian Metals & Ferro Alloys is a producer of ferro chrome and ferro alloys. The company operates through three segments: ferro alloys, power and mining.

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Model Agriculture Produce and Livestock Marketing (Promotion and Facilitation) Act, 2017 finds favor amongst States
Jul 17,2017

Mr. Radha Mohan Singh, Union Minister for Agriculture, Ministry of Agriculture & Farmers Welfare, Government of India, said here today that the model Agriculture Produce and Livestock Marketing (Promotion and Facilitation) Act, 2017 was released to the states on April 24, 2017, and has received a positive response regarding its adoption from all states. He suggested that states could declare the warehouses as market sub-yards so that the farmers can store surpluses and sell directly without having to transport the produce to the Agricultural Produce Market Committee (APMC) yard. In order to address the constraints of present agricultural marketing system promoted by APMCs and assure accessible marketing facilities to farmers, the Government, he added has shared a corrective reform with the states.

The minister said that famers have not been getting the corresponding increase in remuneration. The government is aware of the urgent requirement of strengthening market systems to reduce postharvest losses to enable famers to tide over both situations of bumper production leading to a glut and abrupt price fall and incidences of less production resulting in the availability of meagre surplus.

Mr. Singh said the approach adopted encompasses both adoptions of cost effective production and diversifying agriculture towards growing of high-value crops, agroforestry, rearing of livestock, poultry, fisheries, etc, as well as creating accessible and efficient markets to ensure better price realisation to the farmers through a robust value supply chain. He added that the government empathises with farmers and for that purpose have formulated farmer welfare centric programs and policies, which is equally related to food security and price security.

He said that only through cross-pollination of expertise and innovations and thereafter synergy during implementation of the programs conceived in mission mode, the goal set for the country by Prime Minister of doubling farmers income by 2022 is achievable.

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Shreyas Shipping sails ahead after acquiring vessel
Jul 17,2017

The announcement was made by the company after market hours on Friday, 14 July 2017.

Meanwhile, the S&P BSE Sensex was up 76.56 points, or 0.24% to 32,097.31. The S&P BSE Small-Cap index was up 15.80 points, or 0.1% to 15,923.81.

On the BSE, 2,232 shares were traded in the counter so far, compared with average daily volumes of 11,016 shares in the past one quarter. The stock had hit a high of Rs 345 and a low of Rs 331.50 so far during the day. The stock had hit a 52-week high of Rs 464.55 on 11 July 2016. The stock had hit a 52-week low of Rs 193.10 on 26 December 2016.

The stock had outperformed the market over the past one month till 14 July 2017, gaining 3.69% compared with 2.78% gains in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 3.05% as against Sensexs 8.69% gains. The scrip had also underperformed the market in past one year, dropping 24.97% as against Sensexs 14.6% rise.

The small-cap company has equity capital of Rs 21.96 crore. Face value per share is Rs 10.

Shreyas Shipping & Logistics said that the delivery of the vessel is expected in the first week of September 2017.

On a consolidated basis, Shreyas Shipping & Logistics reported net loss of Rs 9.94 crore in Q4 March 2017 as against net profit of Rs 15.11 crore in Q4 March 2016. Net sales rose 4.7% to Rs 184.31 crore in Q4 March 2017 over Q4 March 2016.

Shreyas Shipping & Logistics, the Indian flagged vessel owning unit of Transworld Group, is a pioneer and market leader in domestic coastal container shipping covering all main ports and container terminals on the Indian coast.

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Jubilant FoodWorks heads north after good Q1 results
Jul 17,2017

The result was announced during market hours today, 17 July 2017.

Meanwhile, the S&P BSE Sensex was up 63.11 points or 0.2% at 32,083.86. The S&P BSE Mid-Cap index declined 4.69 points or 0.03% at 15,182.72.

On the BSE, 3.48 lakh shares were traded on the counter so far as against the average daily volumes of 58,563 shares in the past one quarter. The stock had hit a high of Rs 1,242 and a low of Rs 1,161.30 so far during the day. The stock had hit a 52-week high of Rs 1,298.80 on 2 August 2016 and a 52-week low of Rs 761 on 26 December 2016.

The stock had outperformed the market over the past one month till 14 July 2017, advancing 21.19% compared with the Sensexs 2.78% rise. The stock had also outperformed the market over the past one quarter, gaining 15.05% as against the Sensexs 8.69% rise. The scrip had, however, underperformed the market over the past one year, sliding 2.3% as against the Sensexs 14.6% rise.

The mid-cap company has equity capital of Rs 65.98 crore. Face value per share is Rs 10.

Jubilant FoodWorks President & CFO Sachin Sharma has resigned from the services of the company. His last working day will be 21 July 2017. The Board will appoint his successor in due course.

Jubilant FoodWorks is part of Jubilant Bhartia group and Indias largest food service company with a network of Dominos Pizza restaurants pan India. The company & its subsidiary have the exclusive rights to develop and operate Dominos Pizza brand in India, Sri Lanka, Bangladesh and Nepal. The company also has exclusive rights for developing and operating Dunkin Donuts restaurants for India.

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Unitech leads gainers in A group
Jul 17,2017

Unitech jumped 12.68% to Rs 8.62 at 14:00 IST. The stock topped the gainers in the BSEs A group. On the BSE, 2.53 crore shares were traded on the counter so far as against the average daily volumes of 2.17 crore shares in the past two weeks.

Srei Infrastructure Finance surged 10.37% at Rs 126.10. The stock was second biggest gainer in A group. On the BSE, 10.65 lakh shares were traded on the counter so far as against the average daily volumes of 1.8 lakh shares in the past two weeks.

Jaiprakash Associates advanced 7.23% to Rs 22.25. The stock was third biggest gainer in A group. On the BSE, 78.78 lakh shares were traded on the counter so far as against the average daily volumes of 1.29 crore shares in the past two weeks.

Jubilant FoodWorks gained 4.79% at Rs 1,221.75. The stock was fourth biggest gainer in A group. On the BSE, 2.92 lakh shares were traded on the counter so far as against the average daily volumes of 83,000 shares in the past two weeks.

Dr Lal PathLabs rose 3.49% to Rs 860.70. The stock was fifth biggest gainer in A group. On the BSE, 17,000 shares were traded on the counter so far as against the average daily volumes of 20,000 shares in the past two weeks.

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Volumes jump at Mafatlal Industries counter
Jul 17,2017

Mafatlal Industries clocked volume of 7.57 lakh shares by 13:40 IST on BSE, a 113.87-times surge over two-week average daily volume of 7,000 shares. The stock surged 9.97% at Rs 300.

Siyaram Silk Mills notched up volume of 53,000 shares, a 50-fold surge over two-week average daily volume of 1,000 shares. The stock rose 2.05% at Rs 2,432.

Kansai Nerolac Paints saw volume of 1.56 lakh shares, a 16.15-fold surge over two-week average daily volume of 10,000 shares. The stock lost 1.19% at Rs 444.

Grasim Industries clocked volume of 12.73 lakh shares, a 15.37-fold surge over two-week average daily volume of 83,000 shares. The stock rose 2.86% at Rs 1,309.30.

Jay Bharat Maruti saw volume of 1.95 lakh shares, a 8.55-fold rise over two-week average daily volume of 23,000 shares. The stock jumped 8.82% at Rs 722.55.

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Adani Ports & Special Economic Zone to hold AGM
Jul 17,2017

Adani Ports & Special Economic Zone announced that the th Annual General Meeting(AGM) of the company on 9 August 2017.

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Polaris Consulting & Services allots 7,350 equity shares
Jul 17,2017

Polaris Consulting & Services has allotted 7,350 equity shares pursuant to exercise of vested ASOP options.

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Interworld Digital appoints CFO
Jul 17,2017

Interworld Digital has appointed Rachit Garg as CFO of the Company with effect from 15 July 2017.

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Bothra Metals & Alloys announces resignation of director and company secretary
Jul 17,2017

Bothra Metals & Alloys announced that Prathamesh Ashtekar has resigned from the Board of the Company. Jeny Gowadia, Company Secretary also resigned from the Company.

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Ramco extends recent rally
Jul 17,2017

Meanwhile, the S&P BSE Sensex was up 56.28 points or 0.18% at 32,077.03. The S&P BSE Small-Cap index advanced 9.38 points or 0.06% at 15,917.39.

On the BSE, 35,000 shares were traded on the counter so far as against the average daily volumes of 9,146 shares in the past one quarter. The stock had hit a high of Rs 397.80 and a low of Rs 378.90 so far during the day. The stock had hit a 52-week high of Rs 706 on 11 July 2016 and a 52-week low of Rs 286 on 15 December 2016.

The stock had outperformed the market over the past one month till 14 July 2017, advancing 19.52% compared with the Sensexs 2.78% rise. The stock had, however, underperformed the market over the past one quarter, declining 2.64% as against the Sensexs 8.69% rise. The scrip had also underperformed the market over the past one year, sliding 45.26% as against the Sensexs 14.6% rise.

The small-cap company has equity capital of Rs 30.44 crore. Face value per share is Rs 10.

Shares of Ramco Systems have jumped 16.34% in three trading sessions to its ruling market price, from its close of Rs 336.50 on 12 July 2017 after the company announced during market hours on 13 July 2017 that it has won an order win from China Southern Airlines General Aviation (CSAGA) for integrating its organization-wide maintenance and engineering operations.

CSAGA, which operates Asias largest fleet of Sikorsky helicopters, will implement Ramco Aviation Maintenance & Engineering Suite 5.8, enabling its staff across China to automate and manage fleet data in real time.

Ramco Aviation Suite V5.8 is a powerful enterprise application that covers the entire spectrum of maintenance operations both for the civil and the military helicoptersn++from maintenance planning to line, hangar, shop and engine maintenance, reliability and engineering, and technical records.

On consolidated basis, Ramco Systems net profit surged 160.38% to Rs 8.02 crore on 1.32% growth in net sales to Rs 114.31 crore in Q4 March 2017 over Q3 December 2016.

Ramco Systems is a fast growing enterprise software player disrupting the market with its multi-tenanted cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

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Gujarat Automotive Gears provides update on scheme of amalgamation
Jul 17,2017

Gujarat Automotive Gears announced that the National Company Law Tribunal, Chandigarh Bench has fixed 24 August 2017 as date of hearing on matter of scheme of amalgamation of Him Teknoforge with Gujarat Automotive Gears.

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Metal stocks shine after strong Chinese economic data
Jul 17,2017

Meanwhile, the S&P BSE Sensex was up 50.53 points or 0.16% at 32,071.28.

JSW Steel (up 1.35%), Hindustan Copper (up 1.01%), Vedanta (up 2.06%), Hindalco Industries (up 1.44%), Hindustan Zinc (up 1.99%), Jindal Steel & Power (up 2.11%), Tata Steel (up 0.38%), Steel Authority of India (Sail) (up 0.81%), National Aluminum Company (up 0.21%) and NMDC (up 0.13%) gained. Bhushan Steel fell 2.58%.

The S&P BSE Metal index had outperformed the market over the past one month till 14 July 2017, gaining 7.09% compared with 2.78% gains in the Sensex. The index had, however, underperformed the market in past one quarter, gaining 5.24% as against Sensexs 8.69% gains. The index had outperformed the market in past one year, gaining 28.46% as against Sensexs 14.6% rise.

Among economic data in China, industrial output in China expanded at a faster pace in June, an indication of continued firmness in the worlds second-largest economy, official data showed. Value-added industrial output, a rough proxy for economic growth, rose by 7.6% in June from a year earlier, compared with a 6.5% increase in May, the National Bureau of Statistics said.

Separately, Chinas economy showed surprising resilience in the second quarter, as Beijings efforts to rein in financial leverage and property speculation had a smaller-than-expected impact on growth. The economy expanded by 6.9% in the second quarter, unchanged from the first quarter, according to figures released by the National Bureau of Statistics. Both the data were announced today, 17 July 2017.

China is the worlds largest consumer of steel, copper and aluminum.

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