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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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Fairchem Speciality to pay dividend
Jul 11,2017

Fairchem Speciality announced that dividend, if declared by the shareholders, will be paid on or before 9 September, 2017.

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Gabriel India fixes record date for dividend
Jul 11,2017

Gabriel India has fixed 01 August 2017 as record date for payment of dividend.

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JNPT Records Improvement in Performance during First Quarter of 2017-18 Container traffic up by 5.11 per cent
Jul 11,2017

Jawaharlal Nehru Port Trust (JNPT), countrys largest container port registered a 5.11 per cent growth in container traffic in the first quarter of the current financial year by handling 1.20 million TEUs as compared to 1.14 million TEUs in the corresponding quarter of the last financial year. Jawaharlal Nehru Port Container Terminal (JNPCT) handled 4.01 lakh TEUs during this period as against 3.99 lakh TEUs in the corresponding quarter of the last year, showing 0.5% growth. The APM terminal handled 4.99 lakh TEUs, up by 14.5 per cent and NSIGT handled 1.34lakh TEUs as compared to 1.17 lakh TEUs last year.

The port also registered a 2.8 % growth in the total volume of cargo handled in the first quarter of the current financial year. A total volume of 16.35 million tonnes of cargo was handled as compared to 15.90 million tonnes in the corresponding period of the previous year.

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EdgeVerve to Offer the Finacle Suite of Solutions on Amazon Web Services
Jul 11,2017

EdgeVerve Systems, a wholly-owned subsidiary of Infosys announced the availability of its Finacle suite of solutions on Amazon Web Services (AWS). With this, banks around the world can securely leverage Finacles industry-leading solution suite, along with other enterprise-class applications hosted on the AWS Cloud.

This new offering allows banks to either use the entire suite of Finacle solutions or choose to implement specific Finacle offerings. Such select implementations will also help banks swiftly move to a truly digitalexperience, ensuring their customers have world class banking experiences across devices and platforms.

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ESIC & DGFASLI sign MoU for collaboration on occupational health and prevention of occupational injuries and diseases
Jul 11,2017

A Memorandum of Understanding (MoU) was signed between ESIC and Directorate General Factory Advice Service & Labour Institutes (DGFASLI) for collaboration in the field of occupational health and prevention of occupational injuries and diseases. Speaking on this occasion, Shri Bandaru Dattatreya, the Minister of State (Independent Charge) for Labour & Employment, said that Ministry is committed to providing social security for the workers across the country. The MoU will help in spreading awareness for healthy working conditions, reduce the danger of diseases or injuries and provide good quality life for workers.

The MoU seeks to establish a mutual collaboration that will enhance Occupational Health of workers; reduce the occurrence of work related injuries and diseases. Special focus shall be paid to precarious working conditions in the formal and informal sectors. The main focus is occupational health by establishing DGFASLI-ESIC Occupational Health Training, Research & Development Centre (OHTRDC) at Regional Labour Institute, Faridabad followed by at other institutes located at Mumbai, Chennai, Kolkata and Kanpur. The collaboration aims at improving the quality of life through joint scientific research following other activities:-

a. Assessment of OSH challenges in all the spheres of economic activity.

b. Special activities for prevention and control of Asbestosis, Silicosis and other occupational diseases.

c. Development of training modules for different target groups.

This Memorandum comes into force from today and will remain in force for a time period of three (03) years.

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Mission Parivar Vikas to focus on 146 districts in 7 states with high TFR
Jul 11,2017

n++Mission Parivar Vikas will focus on 146 high fertility districts in 7 states with high TFR. Under this, specific targeted initiatives shall be taken for population stabilisation through better services deliveryn++. This was stated by Shri J P Nadda, Union Minister of Health and Family Welfare.

Shri Nadda stated that Mission Parivar Vikas is a new initiative conceived by the Ministry with a strategic focus on improving access through provision of services, promotional schemes, commodity security, capacity building, enabling environment and intensive monitoring. Shri Nadda congratulated the team for undertaking micro-planning for these districts and developing need-based programmes to address TFR. The Health Minister also advised the officials to undertake half yearly review of the programme and correlate the achievements with time to gauge whether the programme is moving in the right direction or not. He stated that n++We have enhanced the basket of contraceptive choices to meet the changing needs of people and have taken steps to ensure quality assured services and commodities are delivered to the last-mile consumers in both rural and urban areas.n++

During the event, Shri J P Nadda introduced the new injectable in the public health system under the n++Antaran++ program and launched a new software - Family Planning Logistics Management Information System (FP-LMIS) - designed to provide robust information on the demand and distribution of contraceptives to health facilities and ASHAs to strengthen supply chain management.

As a part of the new communications campaign linked to the rollout, the Health Minister also launched a new consumer friendly website on family planning and a 52 week radio show for couples to discuss issues related to marriage and family planning, which will be aired across the country. The Health Minister further highlighted the life cycle approach of the Ministry and stated that a continuum of care approach has been adopted by the Ministry with the articulation of Strategic approach to Reproductive Maternal, Newborn, Child and Adolescent health (RMNCH+A), bringing focus on all the life stages.

Smt. Anupriya Patel, Minister of State (HFW), said that population dynamics have a significant influence on sustainable development. The changes in population growth rates and age structures are closely linked to national and global developmental challenges and their solutions. She further stated that the issue of population stabilization is so gigantic in its proportion that the government alone cannot address the issue and thus the collective involvement of NGOs, private sector and corporate sector shall play a pivotal role.

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Loyal Equipments secures order for supply of pressure vessels
Jul 11,2017

Loyal Equipments has received an order of Rs. 81 Lakhs from Kirloskar Pneumatic Company for supply of pressure vessels for BPCL Project.

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No GST is applicable on free food supplied in anna kshetras run by religious institutions
Jul 11,2017

There are media reports suggesting that GST applies on free food supplied in anna kshetras run by religious institutions. This is completely untrue. No GST is applicable on such food supplied free.

Further, prasadam supplied by religious places like temples, mosques, churches, gurudwaras, dargahs, etc. attracts Nil CGST and SGST or IGST, as the case may be.

However, some of the inputs and input services required for making prasadam would be subject to GST. These include sugar, vegetable edible oils, ghee, butter, service for transportation of these goods etc. Most of these inputs or input services have multiple uses. Under GST regime, it is difficult to prescribe a separate rate of tax for sugar, etc. when supplied for a particular purpose.

Further, GST being a multi-stage tax, end use based exemptions or concessions are difficult to administer. Therefore, GST does not envisage end use based exemptions. It would, therefore, not be desirable to provide end use based exemption for inputs or input services for making prasadam or food for free distribution by religious institutions.

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Kerala Ayurveda awarded Make in India Emerging Enterpreneur Award, 2017
Jul 11,2017

Kerala Ayurveda has won the prestigious Make in India Emerging Enterpreneur Award, 2017 under Pharmaceuticals and Biotechnology Category which is instituted by India Today, Indias Leading Publication .

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Cosmo Films to pay dividend
Jul 11,2017

Cosmo Films announced that dividend for Financial Year 2016-2017 (If approved by the Shareholders in ensuing A.G.M.) shall be paid / dispatched to the Shareholders on or before 03 September 2017.

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Moodys: Asian Liquidity Stress Index weakens to 25.6% in June from 25.2% in May
Jul 11,2017

Moodys Investors Service says that its Asian Liquidity Stress Index (Asian LSI) weakened in June, rising to 25.6% from 25.2% in May 2017.

The Asian LSI measures the percentage of high-yield companies with SGL-4 scores as a proportion of high-yield corporate family ratings (CFRs) and decreases when speculative-grade liquidity improves.

The June figure ends six months of continuous improvement, and the reading now remains just above the long-term average of 22.9%, highlighting that weak liquidity is still a concern for many companies in Asia, says Brian Grieser, a Moodys Vice President and Senior Credit Officer.

The Moodys report points out that the liquidity stress sub-index for North Asian high-yield companies increased to 26.2% in June from 24.7% in May, and within this portfolio, the Chinese sub-index rose to 27% from 25.4%.

Meanwhile, the Chinese high-yield property sub-index remained at 7.5% in June, an all-time low. The Chinese high-yield industrials sub-index also increased to 50% from 48.4%.

The South and Southeast Asian liquidity stress sub-index also improved to 24.4% in June from 26.1% in May, and the Indonesian sub-index decreased to 19% from 22.7%, the lowest level since November 2015.

Moodys further notes that the strong momentum seen in high-yield issuance this year continued in June. Rated high-yield issuance totaled $5.4 billion in the month, driven by China Evergrande Groups (B2 stable) issuance of $3.8 billion of new notes.

Junes total also raised year-to-date issuance to $21.6 billion, which is near the $23.3 billion issued in 2013, the strongest level in the past five years.

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Tata Motors extends gains on good JLR sales
Jul 11,2017

Meanwhile, the S&P BSE Sensex was up 45.06 points or 0.14% at 31,760.70.

On the BSE, 12.04 lakh shares were traded on the counter so far as against the average daily volumes of 19.25 lakh shares in the past one quarter. The stock had hit a high of Rs 462.25 and a low of Rs 451.25 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 417.10 on 8 May 2017.

The stock had underperformed the market over the past one month till 10 July 2017, sliding 4.38% compared with the Sensexs 1.45% rise. The stock had also underperformed the market over the past one quarter, declining 5.96% as against the Sensexs 7.24% rise. The scrip had also underperformed the market over the past one year, sliding 3.97% as against the Sensexs 16.92% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Shares of Tata Motors have gained 4.68% in two trading sessions from its closing of Rs 436.80 on 7 July 2017, after the company announced after trading hours on 7 July 2017 that Jaguar Land Rover (JLR) reported a 11% growth in sales at 51,591 units in June 2017 over June 2016, driven by healthy China market. Shares of Tata Motors advanced 2.28% to settle at Rs 446.75 yesterday, 10 July 2017.

Jaguar sales grew by 16.4% to 15,343 units in June 2017 over June 2016. Land Rover sales rose 8.9% to 36,248 units in June 2017 over June 2016.

On a consolidated basis, net profit of Tata Motors declined 16.8% to Rs 4336.43 crore on 2.9% decline in net sales to Rs 77217.19 crore in Q4 March 2017 over Q4 March 2016.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Tube Investments of India declines after recent rally
Jul 11,2017

Meanwhile, the S&P BSE Sensex was up 107.33 points, or 0.34% at 31,822.97.

On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 30,134 shares in the past one quarter. The stock had hit a high of Rs 776.40 and a low of Rs 756.20 so far during the day. The stock had hit a record high of Rs 780 on 10 July 2017 and a 52-week low of Rs 497.10 on 8 July 2016.

The stock had outperformed the market over the past one month till 10 July 2017, advancing 9.73% compared with the Sensexs 1.45% rise. The scrip had also outperformed the market over the past one quarter advancing 21.58% as against the Sensexs 7.24% rise. The scrip had also outperformed the market over the past one year advancing 50.29% as against the Sensexs 16.92% rise.

The large-cap company has equity capital of Rs 37.50 crore. Face value per share is Rs 2.

Shares of Tube Investments of India had rallied 12.84% in the preceding three trading sessions to settle at Rs 775.05 yesterday, 10 July 2017, from its close of Rs 686.85 on 5 July 2017.

Tube Investments of Indias net profit fell 89.2% to Rs 72.50 crore on 1.5% increase in net sales to Rs 1027.16 crore in Q4 March 2017 over Q4 March 2016.

Tube Investments of India is engaged in the business of cycles and accessories; steel strips and tubes, and metal formed products. The company operates through three segments: cycles and accessories, engineering and metal formed products.

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NIIT Technologies leads gainers in A group
Jul 11,2017

NIIT Technologies jumped 5.13% to Rs 593.85 at 14:20 IST. The stock topped the gainers in the BSEs A group. On the BSE, 1.12 lakh shares were traded on the counter so far as against the average daily volumes of 27,000 shares in the past two weeks.

Videocon Industries surged 4.88% at Rs 29. The stock was second biggest gainer in A group. On the BSE, 32,000 shares were traded on the counter so far as against the average daily volumes of 12.53 lakh shares in the past two weeks.

KEC International advanced 4.55% to Rs 283.80, with the stock extending yesterdays gains triggered by the company securing new orders. The stock was third biggest gainer in A group. On the BSE, 2.18 lakh shares were traded on the counter so far as against the average daily volumes of 79,000 shares in the past two weeks.

Alembic Pharmaceuticals gained 4.2% at Rs 537.80. The stock was fourth biggest gainer in A group. On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 8,836 shares in the past two weeks.

Bajaj Electricals rose 3.87% to Rs 342.50. The stock was fifth biggest gainer in A group. On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 27,000 shares in the past two weeks.

Bajaj Electricals had advanced a sum of Rs 3.80 crore to Starlite Lighting (SLL) as a short term loan inter-alia on the collateral security by way of pledge by the promoters of SLL of 38 lakh equity shares, 28% equity, held in SLL, under an agreement of pledge of shares dated 23 February 2007, with a right to the company to purchase the same, at its sole discretion, at a pre-determined consideration of Rs 3.50 lakh.

The company has now exercised its right to acquire these shares and with this acquisition, the shareholding of the company in SLL has increased from 19% to 47%. The above transaction falls within the purview of related party transactions. The announcement was made after market hours yesterday, 10 July 2017.

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L&T Technology Services and PTC Unveil Industry 4.0 Center of Excellence
Jul 11,2017

PTC and L&T Technology Services announced the opening of a Centerof Excellence (CoE) focused on Industrial Internet of Things (IoT) innovation at LTTS office in Bangalore, India. Popularly termed as Industry 4.0, the Industrial IoT Center of Excellence will demonstrate the promise of digital transformations for companies across the globe, and will showcase the technologies that make those transformations possible.

LTTS will equip the CoE with the entire PTC technology stack - from product design software through Industrial IoT functionality. The CoE will support LTTS advanced capabilities in the Industrial IoT space and will focus primarily on application lifecycle management (ALM), product lifecycle management (PLM), service lifecycle management (SLM), manufacturing operations management (MOM), and connectedmanufacturing. Customers visiting the space can experience new-age technology innovations to better inform decisions on initiating new IoT projects or further developing existing ones.

PTC was chosen as the technology partner for the CoE because of the vastcapabilities of its IoT technology, as well as its longstanding leadership and success with solutions such as computer aided design (CAD) and PLM. The full technology stack from PTC will be available in the CoE, from Creon++ CAD software and Windchilln++ PLM software through the ThingWorxn++ Industrial IoT platform.

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