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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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ICICI Bank allots 104,250 equity shares
Apr 12,2017

ICICI Bank has allotted 104,250 equity shares of face value of Rs 2 each on 10 April 2017 under the Employee Stock Option Scheme, 2000.

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Sukhjit Starch & Chemicals sweetens after providing business update
Apr 12,2017

The announcement was made after market hours yesterday, 11 April 2017.

Meanwhile, the S&P BSE Sensex was down 124.89 points, or 0.42% to 29,667.66. The S&P BSE Small-Cap index was down 46.44 points, or 0.31% to 14,878.43.

On BSE, so far 15,000 shares were traded in the counter as against an average daily volume of 2,894 shares in the past one quarter. The stock hit a high of Rs 360.05 and a low of Rs 341.95 so far during the day. The stock had hit a record high of Rs 405 on 3 November 2016. The stock had hit a 52-week low of Rs 231.10 on 6 June 2016.

The stock had outperformed the market over the past one month till 11 April 2017, rising 14.93% compared with 2.91% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 16% as against Sensexs 9.76% rise.

The small-cap companys equity capital is Rs 7.38 crore. Face value per share is Rs 10.

Sukhjit Starch & Chemicals announced that most of the approvals from the concerned authorities including NOC from Central Ground Water Authority for setting up the mega food park in Tehsil Phagwara, Distt. Kapurthala, Punjab have been received. However, some statutory approvals from the State Government Authorities like obtaining consent to establish, approval of layout/zoning plans etc are in process, Sukhjit Starch & Chemicals said.

The mega food park will be set up in the name and style of Sukhjit Mega Food Park & Infra, a special purpose vehicle incorporated as a wholly owned subsidiary of the company. The mega food park will entail an investment of Rs 125 crore, which will be financed by way of Central Government Subsidy of Rs 50 crore, bank term loan of Rs 40 crore and balance by way of equity contribution.

Sukhjit Starch & Chemicals net profit fell 49.56% to Rs 4.05 crore on 10.7% rise in total income to Rs 172.16 crore in Q3 December 2016 over Q3 December 2015.

Sukhjit Starch & Chemicals is engaged in developing, manufacturing and distribution of maize starch, dextrine, liquid glucose, maltro-dextrin, mono-hydrate dextrose, any-hydrate dextrose, sorbitol-70% solution and related by-products catering to a wide spectrum of Industries.

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Sterling Tools collaborates with Japanese Company Meidoh Co.
Apr 12,2017

Sterling Tools announced that the Board of Directors of the Company at its meeting held on 12 April 2017 approved the following -

The Company has signed a Business Collaboration Agreement with a Japan based Company named Meidoh Co. having its principal office at 4-5 Sangen-cho, Toyota, Aichi, 4710037, Japan.

The Company has signed Share Subscription Agreement with the aforesaid company. Accordingly approved the proposal to issue 18,01,211 equity shares on preferential basis of face value of Rs. 2/- to aforesaid company, at an issue price of Rs 246.60 per share.

To convene an Extraordinary General Meeting of the company to obtain shareholders approval on Wednesday, 10 May 2017 for the proposed Preferential Allotment.

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Shilpa Medicare spurts as USFDA accepts corrective action plan
Apr 12,2017

The announcement was made during market hours today, 12 April 2017.

Meanwhile, the S&P BSE Sensex was down 138.09 points, or 0.46% to 29,650.26.

On the BSE, 84,000 shares were traded in the counter so far, compared with average daily volumes of 7,110 shares in the past one quarter. The stock had hit a high of Rs 748.95 and a low of Rs 688.40 so far during the day.

The stock hit a record high of Rs 786.75 on 21 December 2016. The stock hit a 52-week low of Rs 434.50 on 12 April 2016.

The stock had outperformed the market over the past one month till 11 April 2017, rising 6.41% compared with 2.91% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 3% as against Sensexs 9.76% rise.

The mid-cap company has equity capital of Rs 8.01 crore. Face value per share is Re 1.

Shilpa Medicare announced that the US Food and Drug Administration (USFDA) issued an Establishment Inspection Report (EIR) for the companys Active Pharmaceutical Ingredient (API) manufacturing facilities located at Raichur, Karnataka which was inspected between 12th and 16th December 2016. The inspection has now been closed by the USFDA. The company had submitted a detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines in response to the form 483 issued at the end of inspection. The USFDA has reviewed the CAPA and has found them acceptable.

On a consolidated basis, Shilpa Medicares net profit dropped 37.05% to Rs 17.45 crore on 8.23% growth in net sales to Rs 183.58 crore in Q3 December 2016 over Q3 December 2015.

Shilpa Medicare is engaged in the business of bulk drugs manufacturing.

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Vikas EcoTech receives Food Grade approval for Tinmate (Organotin PVC Stabilizers)
Apr 12,2017

Vikas EcoTech announced that FICCI Research & Analysis Centre has certified the Companys product, Tinmate (Organotin PVC Stabilizers) as Food grade and Food Contact Safe product.

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Sterling Tools jumps after signing business collaboration agreement
Apr 12,2017

The announcement was made during market hours today, 12 April 2017.

Meanwhile, the S&P BSE Sensex was down 175.22 points, or 0.59% to 29,613.13

On BSE, so far 43,000 shares were traded in the counter as against an average daily volume of 11,012 shares in the past one quarter. The stock hit a high of Rs 261.85 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 230.30 so far during the day. The stock had hit a 52-week low of Rs 86.20 on 2 June 2016.

The stock had outperformed the market over the past one month till 11 April 2017, rising 12.46% compared with 2.91% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 17.49% as against Sensexs 9.76% rise.

The small-cap companys equity capital is Rs 6.84 crore. Face value per share is Rs 2.

Sterling Tools said that the company has signed a business collaboration agreement with a Japan-based Meidoh Co. The company has signed share subscription agreement with Meidoh Co and has accordingly approved the proposal to issue 18.01 lakh shares on preferential basis to it at Rs 246.60 per share.

Sterling Tools net profit rose 85.69% to Rs 12.59 crore on 1.32% rise in total income to Rs 87.28 crore in Q3 December 2016 over Q3 December 2015.

Sterling Tools is engaged in the manufacturing and marketing of high tensile cold forged fasteners. Over the years, it has become one of the leading OEM suppliers in India with a client base that spans leading automotive companies in India, Europe and USA.

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Board of Goa Carbon recommends final dividend
Apr 12,2017

Goa Carbon announced that the Board of Directors of the Company at its meeting held on 11 April 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

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Dai-ichi Karkaria to hold board meeting
Apr 12,2017

Dai-ichi Karkaria will hold a meeting of the Board of Directors of the Company on 5 May 2017.

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Muthoot Capital Services hits record high
Apr 12,2017

The announcement was made during market hours today, 12 April 2017.

Meanwhile, the S&P BSE Sensex was down 179.66 points, or 0.6% at 29,608.69. The S&P BSE Small-cap index was down 107.08 points, 0.72% at 14,817.79.

On the BSE, 1.85 lakh shares were traded on the counter so far as against the average daily volumes of 3,890 shares in the past one quarter. The stock had hit a high of Rs 429 so far during the day, which is also its record high. The stock had hit a low of Rs 348 so far during the day.

The stock had hit a 52-week low of Rs 150 on 11 April 2016. The stock had outperformed the market over the past one month till 11 April 2017, advancing 35.31% compared with the Sensexs 2.91% rise. The scrip had also outperformed the market over the past one quarter advancing 60.95% as against the Sensexs 9.76% rise.

The small-cap company has equity capital of Rs 12.47 crore. Face value per share is Rs 10.

Muthoot Capital Services said that a meeting of the board of directors of the company is scheduled to be held on 18 April 2017, to consider issue of shares by way of bonus shares.

Muthoot Capital Services net profit rose 6.3% to Rs 6.44 crore on 20.9% increase in total income of Rs 70.06 crore in Q3 December 2016 over Q3 December 2015.

Muthoot Capital Services is a deposit taking non-banking financial company (NBFC). The company is engaged in financing for purchase of automobiles, including two wheelers, against hypothecation of the respective vehicles, and granting of personal/business loans against demand promissory notes.

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Shilpa Medicare provides update on USFDA inspection of its API manufacturing facility at Raichur, Karnataka
Apr 12,2017

Shilpa Medicare announced that the USFDA has issued an Establishment Inspection Report (EIR) for the Companys Active Pharmaceutical Ingredient (API) manufacturing facilities located at Raichur, Karnataka, India which was inspected between 12 December and 16 December 2016. The inspection has now been closed by the US FDA. The Company had submitted a detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines in response to the form 483 issued at the end of inspection. The US FDA has reviewed the CAPA and has found them acceptable.

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Petronet LNG hits record high after brokerage raises price target
Apr 12,2017

Meanwhile, the S&P BSE Sensex was down 170.46 points, or 0.57% to 29,617.89.

On the BSE, 2.90 lakh shares were traded in the counter so far, compared with average daily volumes of 2.08 lakh shares in the past one quarter. The stock had hit a high of Rs 440.40 so far during the day, its record high for the counter. The stock had hit a low of Rs 428 so far during the day. The stock hit a 52-week low of Rs 244.25 on 12 April 2016.

The stock had outperformed the market over the past one month till 11 April 2017, rising 11.49% compared with 2.91% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.98% as against Sensexs 9.76% rise.

The large-cap company has equity capital of Rs 750 crore. Face value per share is Rs 10.

According to reports, the brokerage said its confidence continues in Petronet LNG - Indias key LNG importer - as a compelling story and safest name in its coverage. It sees no risk to companys ability to raise tariff by 5% in near term.

Petronet LNGs net profit surged 132.55% to Rs 397.47 crore on 23.9% increase in net sales to Rs 5976.58 crore in Q3 December 2016 over Q3 December 2015.

Petronet LNG was formed as a joint venture by the Government of India to import liquified natural gas (LNG) and set up LNG terminals in the country.

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Goa Carbon gallops to 52-week high after blockbuster Q4 outcome
Apr 12,2017

The result was announced after market hours yesterday, 11 April 2017.

Meanwhile, the S&P BSE Sensex was down 151.65 points or 0.51% at 29,636.70. Meanwhile, the S&P BSE Small-Cap index was down 109.35 points or 0.73% at 14,815.52.

On BSE, so far 7.57 lakh shares were traded in the counter as against average daily volume of 32,528 shares in the past one quarter. The stock hit a high of Rs 154.90 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 138.70 so far during the day. The stock had hit a 52-week low of Rs 76.35 on 25 May 2016.

The stock had outperformed the market over the past one month till 11 April 2017, rising 23.39% compared with 2.91% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, gaining 7.82% as against Sensexs 9.76% rise.

The small-cap company has equity capital of Rs 9.15 crore. Face value per share is Rs 10.

Goa Carbon is engaged in the business of manufacturing and marketing of calcined petroleum coke.

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Shriram City Union Finance slips after RBI penalty
Apr 12,2017

Meanwhile, the S&P BSE Sensex was down 166.25 points, or 0.56% to 29,622.10.

On the BSE, 114 shares were traded in the counter so far, compared with average daily volumes of 12,032 shares in the past one quarter. The stock had hit a high of Rs 2,305.50 and a low of Rs 2,260.85 so far during the day.

The stock hit a record high of Rs 2,650 on 30 October 2016. The stock hit a 52-week low of Rs 1,501 on 12 April 2016.

The stock had outperformed the market over the past one month till 11 April 2017, rising 15.10% compared with 2.91% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.22% as against Sensexs 9.76% rise.

The large-cap company has equity capital of Rs 65.94 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 20 lakh on Shriram City Union Finance for violation of directions/orders issued by Reserve Bank of India from time to time. RBI made the announcement after market hours yesterday, 11 April 2017.

A scrutiny of sample loan accounts of the company was conducted in November 2015. It was observed that the company has violated various provisions of the Fair Practices Code guidelines issued by RBI under Section 45 L of the RBI Act, 1934. On account of various contraventions to RBI directions as observed during the scrutiny, the company was issued a Show Cause Notice (SCN) on 1 August 2016 for imposition of penalty. The companys response to the SCN was not found to be satisfactory. The company was also accorded a personal hearing by RBI on 14 February 2017. After considering the facts of the case and the companys reply, as also, personal submissions made during the hearing, RBI came to the conclusion that the violations as observed during scrutiny were substantiated which warranted imposition of monetary penalty on the company. Accordingly, a penalty of Rs 20 lakh has been imposed on the company.

Shriram City Union Finances net profit fell 9.5% to Rs 157.74 crore on 15.5% rise in operating income to Rs 1156.33 crore in Q3 December 2016 over Q3 December 2015.

Shriram City Union Finance is Indias premier financial services company specializing in retail finance. It has a comprehensive range of offerings comprising finance for two wheelers and three wheelers, four wheeler finance (both new and pre-owned passenger and commercial vehicles), personal loans, small business loans, and loan against gold.

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Filatex India declines on profit booking
Apr 12,2017

Meanwhile, the S&P BSE Sensex was down 142.90 points, or 0.48% at 29,645.45. The S&P BSE Small-cap index was down 126.60 points, 0.85 % at 14,798.27.

On the BSE, 29,000 shares were traded on the counter so far as against the average daily volumes of 1.37 lakh shares in the past one quarter. The stock had hit a high of Rs 147.60 and a low of Rs 139 so far during the day.

The stock had hit a 52-week high of Rs 149.30 on 10 April 2017 and a 52-week low of Rs 38 on 8 April 2016. The stock had outperformed the market over the past one month till 11 April 2017, advancing 26.48% compared with the Sensexs 2.91% rise. The scrip had also outperformed the market over the past one quarter advancing 103.34% as against the Sensexs 9.76% rise.

The small-cap company has equity capital of Rs 43.50 crore. Face value per share is Rs 10.

Filatex India had rallied 27.48% in the preceding eight trading sessions to settle at Rs 145.90 yesterday, 11 April 2017, from its closing of Rs 114.45 on 29 March 2017.

Filatex Indias net profit rose 25.4% to Rs 7.20 crore on 22.7% increase in net sales to Rs 366.59 crore in Q3 December 2016 over Q3 December 2015.

Filatex India is engaged in manufacture and trading of synthetic yarn and textiles. It manufactures polyester and polypropylene multifilament yarn, and polyester chips.

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Reliance Defence slips after weak Q4 earnings
Apr 12,2017

The result was announced after market hours yesterday, 11 April 2017.

Meanwhile, the S&P BSE Sensex was down 141.52 points, or 0.48% to 29,646.83.

On the BSE, 5.83 lakh shares were traded in the counter so far, compared with average daily volumes of 6.78 lakh shares in the past one quarter. The stock had hit a high of Rs 68 and a low of Rs 65.75 so far during the day.

The stock hit a 52-week high of Rs 72.85 on 1 August 2016. The stock hit a 52-week low of Rs 48.40 on 22 November 2016.

The stock had outperformed the market over the past one month till 11 April 2017, rising 16.30% compared with 2.91% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.10% as against Sensexs 9.76% rise.

The mid-cap company has equity capital of Rs 736.21 crore. Face value per share is Rs 10.

Reliance Defence & Engineering reported net loss of Rs 139.92 crore in Q4 March 2017 compared with net profit of Rs 102.44 crore in Q4 March 2016. Net sales jumped 140.6% to Rs 227.89 crore in Q4 March 2017 over Q4 March 2016.

The company reported net loss of Rs 523.43 crore in the year ended March 2017 compared with net loss of Rs 528.65 crore in the year ended March 2016. Net sales rose 69.4% to Rs 518.75 crore in the year ended March 2017 March 2017 over the year ended March 2017 March 2016.

On a consolidated basis, Reliance Defence & Engineering reported net loss of Rs 577.22 crore in the year ended March 2017 compared with net loss of Rs 592.42 crore in the year ended March 2016. Net sales rose 80.46% to Rs 563.34 crore in the year ended March 2017 March 2017 over the year ended March 2017 March 2016.

Reliance Defence and Engineering (RDEL) has a large ship building/repair infrastructure in India. It has one of the largest dry dock in the world.

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