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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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GMR Infra corrects on profit booking
Mar 17,2017

Meanwhile, the S&P BSE Sensex was up 71.86 points, or 0.24% to 29,657.71.

On the BSE, 9.50 lakh shares were traded in the counter so far, compared with average daily volumes of 18.81 lakh shares in the past one quarter. The stock had hit a high of Rs 17.40 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 16.50 so far during the day. The stock hit a 52-week low of Rs 10.25 on 9 November 2016.

The stock had outperformed the market over the past one month till 16 March 2017, rising 25% compared with 5.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 46.88% as against Sensexs 11.69% rise.

The large-cap infrastructure company has equity capital of Rs 603.59 crore. Face value per share is Re 1.

Shares of GMR Infrastructure rose 8.18% in three trading sessions to settle at Rs 17.20 yesterday, 16 March 2017, from its close of Rs 15.90 on 10 March 2017.

Meanwhile, GMR Infrastructure announced after market hours yesterday, 16 March 2017, that Delhi International Airport, a GMR led consortium, has signed a land license agreement with Airbus for setting up Indias first full flight simulator at the Aerocity ‐ Terminal District of Indira Gandhi International (IGI) Airport. On the 1.11 acre of land, the France based company will set up Indias first full flight simulator to address the growing demand of trained pilots and aircraft maintenance engineers. Airbus will also establish its India Headquarter within the same development.

The land license agreement was signed today between DIAL and Airbus India for a period till 31st March, 2036. DIAL has received the initial security deposit and ADC and will also receive an annual license fee from this license Airbus India had decided to open its full flight training centre at Delhi Aerocity ‐ Terminal district keeping in mind the growing requirements of its customers as Delhi is a key base for most of the airlines ‐ Air India, Indigo and Vistara, the company said in a statement.

GMR Infrastructure reported net loss of Rs 381.93 crore in Q3 December 2016 as against net profit of Rs 40.01 crore in Q3 December 2015. Net sales rose 250.45% to Rs 85.58 crore in Q3 December 2016 over Q3 December 2015.

GMR Group is a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation and Urban Infrastructure.

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GIPCO inches up after commissioning Kuchhdi wind farm
Mar 17,2017

The announcement was made after market hours yesterday, 16 March 2017.

Meanwhile, the S&P BSE Sensex was up 98.49 points or 0.33% to 29,684.34

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 35,812 shares in the past one quarter. The stock had hit a high of Rs 102.55 and a low of Rs 101 so far during the day. The stock had hit a 52-week high of Rs 116.50 on 31 March 2017. The stock had hit a 52-week low of Rs 75.90 on 16 March 2016.

The stock had underperformed the market over the past one month till 16 March 2017, falling 4.67% compared with 5.08% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.54% as against Sensexs 11.69% rise.

The small-cap power generation firm has equity capital of Rs 151.25 crore. Face value per share is Rs 10.

Gujarat Industries Power Company (GIPCO) said that that company has commissioned 21 megawatts (MW) wind turbine generators (WTGs) at the Kuchhdi wind farm site, Gujarat for which Certificate of Commissioning has been issued by Gujarat Energy Development Agency(GEDA).

Gujarat Industries Power Companys net profit rose 26.81% to Rs 41.29 crore on 11.11% fall in total income to Rs 310.11 crore in Q3 December 2016 over Q3 December 2015.

Gujarat Industries Power Company is engaged in the business of electrical power generation.

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US stocks end mostly lower
Mar 17,2017

U.S. stocks retreated on Thursday, 16 March 2017 to close lower, giving back some of the previous days Federal Reserve-inspired gains as a fall for health-care and utilities stocks pushed the market into negative territory.

The Dow Jones Industrial Average declined 15.55 points, or less than 0.1%, to finish at 20,934.55. The Nasdaq Composite Index turned positive in the final minutes of trading, and finished up 0.71 points at 5,900.76. The S&P 500 index SPX, -0.16% finished down 3.88 points, or 0.2%, at 2,381.38.

Utilities led losing sectors. The financials, tech, consumer-discretionary and consumer staples sectors finished fractionally higher out of the broad-market benchmarks 11 sectors.

Shares of DuPont declined 1.1%, Chevron Corp. shares slid 0.9%, and Merck & Co.shares fell 0.8%.

The Fed on Wednesday, as expected, lifted its benchmark interest rate by 25 basis points to a range of 0.75% to 1%. It also stuck to its forecast for just two more rate hikes this year, even as some economists thought the central bank would signal it was ready to pick up the pace of rate hikes. Higher interest rates tend to boost the dollar. Stock markets rallied on Wednesday after the Federal Reserve raised interest rates by a quarter-point. The central banks anticipated path of future rate increases was seen as less hawkish than expected by market participants, giving a boost to equities.

The ICE Dollar Index fell 0.3% on Thursday, building on a roughly 1.2% slump from Wednesday.

Among economic data expected on Thursday, weekly jobless claims fell by 2,000 to 241,000 in mid-March, as layoffs remained near the lowest level in decades, in line with expectations. Separately, the Federal Reserve Bank of Philadelphias monthly index on regional manufacturers fell to 32.8 in March from 43.3 in Februaryn++the highest reading in 33 years.

News from Washington did little to encourage the notion that tax reform will be a quick and easy process; President Trumps proposed budget was met with resistance and three House Republicans voted against the GOP health care bill in a committee vote, casting doubt on the legislations chances on the floor of the House.

Bullion metals jumped across the board on Thursday, 16 March 2017 with gold prices notching their highest finish in two weeks, on the heels of the dollars decline, which came after the U.S. Federal Reserve raised interest rates, but struck a less hawkish tone than expected.

April gold rallied $26.40, or 2.2%, to settle at $1,227.10 an ounce, with prices ending at their highest level since March 2. The metal scored its biggest one-day percentage gain since June of last year. That is when the U.K. announced its decision to exit from the European Union. Silver jumped 40.7 cents, or 2.4%, to finish at $17.33 an ounce, marking its highest dally percentage gain since January.

Oil prices finished with a modest loss on Thursday, 16 March 2017, a day after a big rally, as rising output from the U.S. remained a threat to efforts by other major producers to rebalance the market. Still, prices continued to find some support following data on Wednesday showing the drop in U.S. crude supply in 10 weeks, as well as weaker dollar in the wake of the Federal Reserves less-hawkish-than-expected rate announcement.

West Texas Intermediate crude oil for April delivery edged down by 11 cents, or 0.2%, to settle at $48.75 a barrel after rallying by 2.4% on Wednesday. May Brent crude shed 7 cents, or 0.1%, to $51.74 a barrel on the ICE Futures exchange in London.

On Friday, investors will receive February Industrial Production (consensus 0.2%) at 9:15 ET, while February Leading Indicators (consensus 0.5%) and the University of Michigan Sentiment Index for March (consensus 96.8) will cross the wires at 10:00 ET.

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Surplus Coal availability has resulted in Declining of Coal Imports: Shri Piyush Goyal
Mar 17,2017

Union Minister of State (I/C) for Coal, Power, New & Renewable Energy and Mines, Shri Piyush Goyal, said that the total coal imports have been consistently reducing over the last three years. In 2016-17, as on 31 December 2016, the figure has reduced to 144.87 MT as compared to 146.12 MT for the same period in 2015-16. Further, the total coal imports in 2015-16 was 199.9 MT as compared to 217.8 MT in 2014-15.

In the power sector, the coal being imported for blending with domestic coal has been decreasing. The quantity of coal imported by the power utilities in 2015-16 decreased to 37.1 MT from 48.5 MT in 2014-15.

In 2016-17, up to 31 January 2017, the power utilities have imported 16.6 MT coal as against import of 31.6 MT during the same period in 2015-16. For 2016-17, estimated coal demand on provisional basis has been assessed to be 884.87 MT, of which respective demand of steel, cement and captive power including fertilizer sector, has been assessed to be 56.62 MT, 34.37 MT & 91.11 MT respectively.

In 2016-17, there has been decline of coal stocks at pitheads of CIL as well as at Power Plants, as shown below:

 Year /Coal Stocks

(MT)

2014-152015-162016-17
(as on 05.03.17)
Pit Head (CIL)53.4757.6456.33Thermal Power Plants26.1038.8726.48

Shri Goyal further informed that to enhance production from the coal mines and introduce the state of the art technology along with global best practices, 39 projects (9 projects post 2014) with Surface miners, Powered Support Long Wall (PSLW) and Continuous Miner (CMs) have been sanctioned and implemented in CIL as an ongoing process till now.

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VA Tech Wabag declines on profit booking
Mar 17,2017

Meanwhile, the S&P Sensex was up 99.54 points or 0.34% at 29,685.39. The S&P mid-cap index was down 52.93 points or 0.38% at 13,859.42.

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 15,310 shares in the past one quarter. The stock had hit a high of Rs 617 and a low of Rs 587 so far during the day.

The stock had hit a 52-week high of Rs 644 on 9 June 2016 and a 52-week low of Rs 449.95 on 23 December 2016. The stock had outperformed the market over the past one month till 16 March 2017, advancing 25.45% compared with the Sensexs 4.54% rise. The scrip had also outperformed the market over the past one quarter advancing 32.11% as against the Sensexs 11.69% rise.

The mid-cap company has equity capital of Rs 10.91 crore. Face value per share is Rs 2.

VA Tech Wabag had rallied 11.16% in the preceding four trading sessions to settle at Rs 620.50 yesterday, 16 March 2017, from its closing of Rs 558.20 on 9 March 2017.

VA Tech Wabag reported consolidated net loss of Rs 2.56 crore in Q3 December 2016, as compared with net profit of Rs 19.22 crore in Q3 December 2015. Net sales rose 16.9% to Rs 713.02 crore in Q3 December 2016 over Q3 December 2015.

VA Tech Wabag is a leading multinational company specialized in water and waste water management.

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Persistent Systems to hold board meeting
Mar 17,2017

Persistent Systems will hold a meeting of the Board of Directors of the Company on 24 April 2017.

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Amarnath Securities to hold board meeting
Mar 17,2017

Amarnath Securities will hold a meeting of the Board of Directors of the Company on 27 March 2017, to consider the appointment of Mr. Hitesh Ruke (DIN. 07752179) as Whole-Time Director of the Company with immediate effect, & to consider the appointment of Mrs. Dia Wadhwani (DIN. 07752120) as Independent Director of the Company with immediate effect.

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Kilpest India to hold board meeting
Mar 17,2017

Kilpest India will hold a meeting of the Board of Directors of the Company on 21 March 2017, to consider and approve the investment in the equity capital of its subsidiary company i.e. M/S. 3B BLACKBIO BIOTECH INDIA LTD, for meeting its growth objectives, financial obligations and to increase equity stake in our Biotech subsidiary company.

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Sharanam Infraproject & Trading to hold board meeting
Mar 17,2017

Sharanam Infraproject & Trading will hold a meeting of the Board of Directors of the Company on 23 March 2017, to appoint Ms. Shivangi Gajjar as a Company Secretary cum Compliance Officer of the Company. 2. Any other business with the permission of the Chair.

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Board of AksharChem (India) recommends dividend
Mar 17,2017

AksharChem (India) announced that the Board of Directors of the Company at its meeting held on 16 March 2017, inter alia, have recommended the dividend of Rs 3.5 per equity Share (i.e. 35%) , subject to the approval of the shareholders.

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Board of Sakthi Finance recommends dividend
Mar 17,2017

Sakthi Finance announced that the Board of Directors of the Company at its meeting held on 16 March 2017, inter alia, have recommended the dividend of Rs 10 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Bullions jump higher
Mar 17,2017

Bullion metals jumped across the board on Thursday, 16 March 2017 with gold prices notching their highest finish in two weeks, on the heels of the dollars decline, which came after the U.S. Federal Reserve raised interest rates, but struck a less hawkish tone than expected.

April gold rallied $26.40, or 2.2%, to settle at $1,227.10 an ounce, with prices ending at their highest level since March 2. The metal scored its biggest one-day percentage gain since June of last year. That is when the U.K. announced its decision to exit from the European Union.

Silver jumped 40.7 cents, or 2.4%, to finish at $17.33 an ounce, marking its highest dally percentage gain since January.

The Fed on Wednesday, as expected, lifted its benchmark interest rate by 25 basis points to a range of 0.75% to 1%. It also stuck to its forecast for just two more rate hikes this year, even as some economists thought the central bank would signal it was ready to pick up the pace of rate hikes. Higher interest rates tend to boost the dollar.

Gold prices got a lift as the dollar weakened against most currency rivals following the Feds hint a measured pace of monetary tightening. The ICE Dollar Index fell 0.3%, building on a roughly 1.2% slump from Wednesday.

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Aditya Birla Nuvo slips after announcing plant shut down
Mar 17,2017

The announcement was made after market hours yesterday, 16 March 2017.

Meanwhile, the S&P BSE Sensex was up 116.20 points, or 0.39%, to 29,702.05

On BSE, so far 2,226 shares were traded in the counter, compared with average daily volume of 1.25 lakh shares in the past one quarter. The stock hit a high of Rs 1,530 and a low of Rs 1,513.40 so far during the day. The stock hit a record high of Rs 1,664 on 9 August 2016. The stock hit a 52-week low of Rs 758.75 on 16 March 2016.

The stock had underperformed the market over the past one month till 16 March 2017, rising 5.03% compared with 5.08% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 27.98% as against Sensexs 11.69% rise.

The large-cap company has equity capital of Rs 130.25 crore. Face value per share is Rs 10.

Aditya Birla Nuvo said that the shut down is from 17 March 2017 and the plants are expected to resume operations from 10 April 2017. During this period, various annual maintenance jobs shall be carried out at the plants.

On a consolidated basis, Aditya Birla Nuvos net profit declined 35.15% to Rs 206.23 crore on 10.41% rise in net sales to Rs 3262.58 crore in Q3 December 2016 over Q3 December 2015.

Aditya Birla Nuvo is a business conglomerate. It commands leadership position across its financial services, telecom, linen and manufacturing businesses.

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Nocil moves higher as board approves capex plan
Mar 17,2017

The announcement was made after market hours yesterday, 16 March 2017.

Meanwhile, the S&P Sensex was up 114.50 points or 0.39% at 29,700.35. The S&P Small-cap index was up 15.26 points or 0.11% at 14,021.66.

On the BSE, 3.62 lakh shares were traded on the counter so far as against the average daily volumes of 3.31 lakh shares in the past one quarter. The stock had hit a high of Rs 88.50 so far during the day, which is also its 52-week high. The stock hit a low of Rs 86 so far during the day.

The stock had hit a 52-week low of Rs 43.35 on 16 March 2016. The stock had underperformed the market over the past one month till 16 March 2017, advancing 3.6% compared with the Sensexs 4.54% rise. The scrip had, however, outperformed the market over the past one quarter advancing 23.15% as against the Sensexs 11.69% rise.

The small-cap company has equity capital of Rs 163.58 crore. Face value per share is Rs 10.

Nocil announced that its board at a meeting held on 16 March 2017, approved expansion of capacities of rubber chemicals and their intermediates at the companys plants situated at Navi Mumbai and Dahej.

The total capital expenditure envisaged is about Rs 170 crore. The expansion project is likely to be commissioned by the end of Q2 of FY 2019. The capital expenditure will be financed largely through internal accruals.

Nocils net profit rose 26.2% to Rs 25.47 crore on 3.2% increase in net sales to Rs 173.84 crore in Q3 December 2016 over Q3 December 2015.

Nocil manufactures basic organic chemicals.

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Music Broadcast sees strong debut
Mar 17,2017

The stock debuted at Rs 420, a premium of 26.13% to the initial public offer (IPO) price. So far the stock hit a high of Rs 420 and low of Rs 370.15. On BSE, so far 20.30 lakh shares were traded on the counter.

Music Broadcast priced the IPO at Rs 333 per share, the top end of the Rs 324 - Rs 333 price band for the IPO. The IPO of Music Broadcast ended with strong response from investors. The IPO received bids for 41.58 crore shares compared with 1.04 crore shares on offer. The IPO was subscribed 39.67 times. The issue opened for bidding on 6 March 2017. It closed on 8 March 2017.

The qualified institutional buyers (QIBs) category was subscribed 39.78 times. The non institutional investors category, made up of high net-worth individuals, was subscribed 109.13 times. The retail individual investors (RIIs) category was subscribed 9.85 times.

The IPO was a combination of a fresh issue of shares for up to Rs 400 crore and an offer for sale of up to 26.58 lakh shares. Out of Rs 400 crore, the company will spend Rs 200 crore on redemption of the listed NCDs (non-convertible debentures), Rs 98.24 crore for early redemption of the JPL NCDs & repayment/ pre-payment of the JPL ICD (inter-corporate deposits) and rest for general corporate purpose.

The company raised Rs 146.55 crore by selling 44.01 lakh shares to a total of 15 anchor investors ahead of the opening of the companys initial public offer (IPO). The shares were allotted to the anchor investors at Rs 333 per share, the top end of the Rs 324 to Rs 333 per share price band for the IPO.

Music Broadcast, promoted by Jagran Prakashan, operates radio stations under the brand Radio City. Radio City is the first private FM radio broadcaster in India. The company has grown its presence from four cities in 2001 to 37 cities as on 15 February 2017. The company expects the remaining two New Radio City Stations to be become operational by March/ April 2017. The company is present in 12 out of the top 15 cities in India by population. As on 31 March 2016, the companys radio stations reached out to over 49.60 million listeners in 23 cities.

Music Broadcast reported a net profit of Rs 29.76 crore on net sales of Rs 136.89 crore in six-months ended September 2016.

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