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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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Nikkei India Services PMI: Services activity heads towards stabilisation
Feb 03,2017

The downturn in service sector activity across India softened during the opening month of 2017, with the slowdown reflecting a weaker contraction in new business inflows. Elsewhere, headcounts rose marginally, while work-in-hand increased for the eighth successive month. Input cost inflation slowed since December to a pace that was only marginal, whereas average selling prices decreased again.

Rising from 46.8 at the end of 2016 to 48.7 in January, the seasonally adjusted headline Nikkei India Services Business Activity Index pointed to the slowest fall in output in the current three-month sequence of reduction. Where contraction was signalled, panellists commented on ongoing declines in new work. Nevertheless, some firms indicated that market conditions had improved following the close of the window for exchanging high-value rupee notes.

The seasonally adjusted Nikkei India Composite PMI Output Index rose from Decembers 38-month low of 47.6 to 49.4 in January, pointing to a weaker contraction in private sector activity that was only marginal. The slowdown was supported by a rebound in factory production.

New orders at services firms dipped at a softer rate in January. Almost 11% of panellists reported falling levels of incoming new business, which they commonly associated with a relatively lower amount of cash in circulation. Concurrently, factory orders rose in the latest month.

January data highlighted an increasing degree of pressure on the capacity of private sector firms operations as outstanding business rose to a greater extent than in December. Faster rates of backlog accumulation were noted in both the manufacturing and service sectors.

Service sector employment increased at the start of 2017, although only marginally. The respective index remained close to the no-change mark of 50.0, therefore continuing a trend of broadly stagnant workforce numbers that stretches back to late 2015. By comparison, goods producers left payroll numbers unchanged during January.

As has been the case since last September, input costs facing service providers increased during January. However, having eased from December, the rate of inflation was relatively muted in the context of historical data. Output prices, on the other hand, were lowered for the fourth straight month. That said, the rate of discounting was fractional overall. In the manufacturing industry, rates of inflation for input costs and selling prices were at 29- and two-month highs respectively.

Sentiment among services companies improved considerably during January on the back of expectations that market conditions will soon normalise. Exactly 17% of panellists anticipate higher activity levels at their units in the coming 12 months, while the remaining firms foresee no change. Likewise, manufacturers confidence improved from Decembers one-year low.

Commenting on the Indian Services PMI survey data, Pollyanna De Lima, economist at IHS Markit, and author of the report, said:

n++Indias pivotal service sector remained in contraction territory in the opening month of 2017, with both new business and activity falling for the third straight month. However, a rebound in the near term is likely as rates of reduction softened and business confidence improved on the back of hopes that market conditions will soon normalise.

What started as a downturn driven by the 500 and 1,000 rupee notes ban appears now to be losing strength. In fact, manufacturers already saw a turnaround, with production being raised in line with higher order books. The upturn at goods producers combined with a slowdown in the contraction of services activity resulted in only a fractional drop in private sector output.

PMI price indicators point to relatively muted inflationary pressures in the private sector economy. As such, there is room for accommodative monetary policy.

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Indo National standalone net profit declines 27.50% in the December 2016 quarter
Feb 03,2017

Net profit of Indo National declined 27.50% to Rs 2.61 crore in the quarter ended December 2016 as against Rs 3.60 crore during the previous quarter ended December 2015. Sales declined 7.30% to Rs 73.62 crore in the quarter ended December 2016 as against Rs 79.42 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales73.6279.42 -7 OPM %7.599.09 - PBDT5.377.31 -27 PBT4.066.10 -33 NP2.613.60 -28

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OCL India standalone net profit rises 111.08% in the December 2016 quarter
Feb 03,2017

Net profit of OCL India rose 111.08% to Rs 80.17 crore in the quarter ended December 2016 as against Rs 37.98 crore during the previous quarter ended December 2015. Sales rose 12.43% to Rs 682.78 crore in the quarter ended December 2016 as against Rs 607.32 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales682.78607.32 12 OPM %23.0018.19 - PBDT153.8391.33 68 PBT115.6547.73 142 NP80.1737.98 111

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Aegis Logistics consolidated net profit rises 25.53% in the December 2016 quarter
Feb 03,2017

Net profit of Aegis Logistics rose 25.53% to Rs 37.56 crore in the quarter ended December 2016 as against Rs 29.92 crore during the previous quarter ended December 2015. Sales rose 136.43% to Rs 1243.15 crore in the quarter ended December 2016 as against Rs 525.81 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1243.15525.81 136 OPM %4.868.46 - PBDT57.5641.80 38 PBT51.4735.99 43 NP37.5629.92 26

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TD Power Systems reports standalone net loss of Rs 11.73 crore in the December 2016 quarter
Feb 03,2017

Net loss of TD Power Systems reported to Rs 11.73 crore in the quarter ended December 2016 as against net profit of Rs 0.30 crore during the previous quarter ended December 2015. Sales declined 38.32% to Rs 62.61 crore in the quarter ended December 2016 as against Rs 101.51 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales62.61101.51 -38 OPM %-9.775.35 - PBDT-3.877.87 PL PBT-10.790.76 PL NP-11.730.30 PL

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Transport Corporation of India standalone net profit declines 18.39% in the December 2016 quarter
Feb 03,2017

Net profit of Transport Corporation of India declined 18.39% to Rs 16.91 crore in the quarter ended December 2016 as against Rs 20.72 crore during the previous quarter ended December 2015. Sales rose 14.93% to Rs 446.74 crore in the quarter ended December 2016 as against Rs 388.69 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales446.74388.69 15 OPM %8.418.33 - PBDT35.9635.69 1 PBT20.7323.36 -11 NP16.9120.72 -18

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CCL International reports standalone net loss of Rs 1.62 crore in the December 2016 quarter
Feb 03,2017

Net loss of CCL International reported to Rs 1.62 crore in the quarter ended December 2016 as against net profit of Rs 0.37 crore during the previous quarter ended December 2015. Sales declined 53.32% to Rs 13.57 crore in the quarter ended December 2016 as against Rs 29.07 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales13.5729.07 -53 OPM %-6.414.20 - PBDT-1.250.71 PL PBT-1.620.39 PL NP-1.620.37 PL

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SEAMEC reports standalone net loss of Rs 126.99 crore in the December 2016 quarter
Feb 03,2017

Net loss of SEAMEC reported to Rs 126.99 crore in the quarter ended December 2016 as against net profit of Rs 3.77 crore during the previous quarter ended December 2015. Sales declined 27.34% to Rs 66.58 crore in the quarter ended December 2016 as against Rs 91.63 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales66.5891.63 -27 OPM %-176.2414.97 - PBDT-112.6017.87 PL PBT-125.925.76 PL NP-126.993.77 PL

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KEI Industries standalone net profit rises 82.91% in the December 2016 quarter
Feb 03,2017

Net profit of KEI Industries rose 82.91% to Rs 27.18 crore in the quarter ended December 2016 as against Rs 14.86 crore during the previous quarter ended December 2015. Sales rose 29.12% to Rs 709.30 crore in the quarter ended December 2016 as against Rs 549.32 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales709.30549.32 29 OPM %10.9811.08 - PBDT44.1329.73 48 PBT37.1023.34 59 NP27.1814.86 83

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Master Chemicals reports standalone net loss of Rs 0.01 crore in the December 2016 quarter
Feb 03,2017

Net Loss of Master Chemicals reported to Rs 0.01 crore in the quarter ended December 2016 as against net loss of Rs 0.01 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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Modern India reports standalone net loss of Rs 1.80 crore in the December 2016 quarter
Feb 03,2017

Net loss of Modern India reported to Rs 1.80 crore in the quarter ended December 2016 as against net profit of Rs 3.42 crore during the previous quarter ended December 2015. Sales declined 44.09% to Rs 14.05 crore in the quarter ended December 2016 as against Rs 25.13 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales14.0525.13 -44 OPM %-13.95-6.33 - PBDT-1.886.13 PL PBT-2.685.09 PL NP-1.803.42 PL

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Shailja Commercial Trade Frenzy reports standalone net loss of Rs 0.08 crore in the December 2016 quarter
Feb 03,2017

Net loss of Shailja Commercial Trade Frenzy reported to Rs 0.08 crore in the quarter ended December 2016 as against net profit of Rs 0.13 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 as against Rs 0.16 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales00.16 -100 OPM %081.25 - PBDT-0.080.13 PL PBT-0.080.13 PL NP-0.080.13 PL

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Kesar Terminals & Infrastructure standalone net profit rises 10.06% in the December 2016 quarter
Feb 03,2017

Net profit of Kesar Terminals & Infrastructure rose 10.06% to Rs 3.94 crore in the quarter ended December 2016 as against Rs 3.58 crore during the previous quarter ended December 2015. Sales declined 12.62% to Rs 9.62 crore in the quarter ended December 2016 as against Rs 11.01 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales9.6211.01 -13 OPM %52.7060.94 - PBDT4.655.97 -22 PBT4.225.48 -23 NP3.943.58 10

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Walchand Peoplefirst standalone net profit declines 43.66% in the December 2016 quarter
Feb 03,2017

Net profit of Walchand Peoplefirst declined 43.66% to Rs 0.40 crore in the quarter ended December 2016 as against Rs 0.71 crore during the previous quarter ended December 2015. Sales declined 0.34% to Rs 5.95 crore in the quarter ended December 2016 as against Rs 5.97 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales5.955.97 0 OPM %3.1914.74 - PBDT0.661.16 -43 PBT0.531.06 -50 NP0.400.71 -44

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Astrazeneca Pharma India standalone net profit rises 84.08% in the December 2016 quarter
Feb 03,2017

Net profit of Astrazeneca Pharma India rose 84.08% to Rs 15.96 crore in the quarter ended December 2016 as against Rs 8.67 crore during the previous quarter ended December 2015. Sales declined 2.38% to Rs 141.12 crore in the quarter ended December 2016 as against Rs 144.56 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales141.12144.56 -2 OPM %10.598.05 - PBDT24.7713.11 89 PBT20.758.67 139 NP15.968.67 84

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