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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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Reliance Defence & Engineering reports standalone net loss of Rs 139.92 crore in the March 2017 quarter
Apr 12,2017

Net loss of Reliance Defence & Engineering reported to Rs 139.92 crore in the quarter ended March 2017 as against net profit of Rs 102.44 crore during the previous quarter ended March 2016. Sales rose 140.57% to Rs 227.89 crore in the quarter ended March 2017 as against Rs 94.73 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 523.43 crore in the year ended March 2017 as against net loss of Rs 528.65 crore during the previous year ended March 2016. Sales rose 69.38% to Rs 518.75 crore in the year ended March 2017 as against Rs 306.26 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales227.8994.73 141 518.75306.26 69 OPM %2.20-13.18 -4.31-51.34 - PBDT-136.31-116.41 -17 -505.58-589.32 14 PBT-185.52-169.70 -9 -706.23-803.58 12 NP-139.92102.44 PL -523.43-528.65 1

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Piramal Phytocare reports standalone net loss of Rs 0.33 crore in the March 2017 quarter
Apr 12,2017

Net Loss of Piramal Phytocare reported to Rs 0.33 crore in the quarter ended March 2017 as against net loss of Rs 1.47 crore during the previous quarter ended March 2016. Sales rose 15.19% to Rs 0.91 crore in the quarter ended March 2017 as against Rs 0.79 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 0.19 crore in the year ended March 2017 as against net loss of Rs 3.24 crore during the previous year ended March 2016. Sales declined 34.65% to Rs 4.13 crore in the year ended March 2017 as against Rs 6.32 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.910.79 15 4.136.32 -35 OPM %-46.15-53.16 --1.4517.88 - PBDT-0.32-0.31 -3 0.231.39 -83 PBT-0.33-1.47 78 0.19-3.24 LP NP-0.33-1.47 78 0.19-3.24 LP

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Trade recovery expected in 2017 and 2018, amid policy uncertainty: WTO
Apr 12,2017

The WTO is forecasting that global trade will expand by 2.4% in 2017; however, as deep uncertainty about near-term economic and policy developments raise the forecast risk, this figure is placed within a range of 1.8% to 3.6%. In 2018, the WTO is forecasting trade growth between 2.1% and 4%.

The unpredictable direction of the global economy in the near term and the lack of clarity about government action on monetary, fiscal and trade policies raises the risk that trade activity will be stifled. A spike in inflation leading to higher interest rates, tighter fiscal policies and the imposition of measures to curtail trade could all undermine higher trade growth over the next two years.

Weak international trade growth in the last few years largely reflects continuing weakness in the global economy. Trade has the potential to strengthen global growth if the movement of goods and supply of services across borders remains largely unfettered. However, if policymakers attempt to address job losses at home with severe restrictions on imports, trade cannot help boost growth and may even constitute a drag on the recovery, said WTO Director-General Roberto Azevn++do.

Although trade does cause some economic dislocation in certain communities, its adverse effects should not be overstated - nor should they obscure its benefits in terms of growth, development and job creation. We should see trade as part of the solution to economic difficulties, not part of the problem. In fact, innovation, automation and new technologies are responsible for roughly 80% of the manufacturing jobs that have been lost and no one questions that technological advances benefit most people most of the time. The answer is therefore to pursue policies that reap the benefits from trade, while also applying horizontal solutions to unemployment which embraces better education and training and social programmes that can quickly help get workers back on their feet and ready to compete for the jobs of the future, he said.

The WTOs more promising forecasts for 2017 and 2018 are predicated on certain assumptions and there is considerable downside risk that expansion will fall short of these estimates. Attaining these rates of growth depends to a large degree on global GDP expansion in line with forecasts of 2.7% this year and 2.8% next year. While there are reasonable expectations that such growth could be achieved, expansion along these lines would represent a significant improvement on the 2.3% GDP growth in 2016.

In 2016, the weak trade growth of just 1.3% was partly due to cyclical factors as economic activity slowed across the board, but it also reflected deeper structural changes in the relationship between trade and economic output. The most trade-intensive components of global demand were particularly weak last year as investment spending slumped in the United States and as China continued to rebalance its economy away from investment and toward consumption, dampening import demand.

Global economic growth has been unbalanced since the financial crisis, but for the first time in several years all regions of the world economy should experience a synchronized upturn in 2017. This could reinforce growth and provide an additional boost to trade.

Forward looking indicators, including the WTOs World Trade Outlook Indicator, point to stronger trade growth in the first half of 2017, but policy shocks could easily undermine positive recent trends. Unexpected inflation could force central banks to tighten monetary policy faster than they would like, undercutting economic growth and trade in the short-run. Other factors, such as the uncertainty provoked by the United Kingdoms withdrawal from the European Union could potentially have an effect. Meanwhile, the possibility of a rise in the application of restrictive trade policies could affect demand and investment flows, and cut economic growth over the medium-to-long term. In light of these factors, there is a significant risk that trade expansion in 2017 will fall into the lower end of the range.

The recovery of world trade this year and next is based on expected world real GDP growth at market exchange rates of 2.7% in 2017 and 2.8% in 2018. This GDP estimate assumes that developed economies maintain generally expansionary monetary and fiscal policies, and that developing economies continue to emerge from their recent slowdown. It should be noted that the WTO does not produce its own GDP forecasts, but rather uses consensus estimates based on a variety of sources including the International Monetary Fund, the Organization for Economic Cooperation and Development, and the United Nations, among others.

Historically, the volume of world merchandise trade has tended to grow about 1.5 times faster than world output, although in the 1990s it grew more than twice as fast. However, since the financial crisis, the ratio of trade growth to GDP growth has fallen to around 1:1. Last year marked the first time since 2001 that this ratio has dropped below 1, to a ratio of 0.6:1. The ratio is expected to partly recover in 2017, but it remains a cause for concern.

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Standard Chartered PLC to hold AGM
Apr 12,2017

Standard Chartered PLC announced that the Annual General Meeting (AGM) of the company will be held on 3 May 2017.

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Infosys rises ahead of Q4 result
Apr 12,2017

Meanwhile, the S&P BSE Sensex was down 144.87 points or 0.49% at 29,643.48

On the BSE, 2.12 lakh shares were traded on the counter so far as against the average daily volumes of 2.56 lakh shares in the past one quarter. The stock had hit a high of Rs 976.05 and a low of Rs 961.05 in intraday trade.

The stock had hit a record high of Rs 1,278 on 3 June 2016 and a 52-week low of Rs 900.30 on 9 November 2016. The stock had underperformed the market over the past one month till 11 April 2017, falling 5.19% compared with 2.91% rise in the Sensex. The scrip also underperformed the market in past one quarter, declining 0.19% as against Sensexs 9.76% rise.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys announces its Q4 and full year ended 31 March 2017 (FY 2017) result tomorrow, 13 April 2017.

Infosys had at the time of announcing Q3 December 2016 results on 13 January 2017 trimmed its revenue growth guidance in dollar terms for FY 2017. Infosys expects its dollar revenue to grow between 7.2% and 7.6%, down from its earlier expectation of growing between 7.5% and 8.5% in FY 2017.

In constant currency terms, Infosys expects revenue to grow between 8.4% and 8.8% as against its earlier estimate of growing between 8% and 9% for the full year. In constant currency terms, the company had forecast 10.5%-12% growth in revenue for FY 2017 at the time of announcing Q1 result on 15 July 2016.

On a consolidated basis, Infosys net profit rose 2.82% to Rs 3708 crore on 0.21% decline in net sales to Rs 17273 crore in Q3 December 2016 over Q2 September 2016.

Infosys is one of the leading information technology outsourcing services providers. The company provides business consulting, information technology and outsourcing services.

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Board of CHD Chemicals allots 12.15 lakh equity shares on conversion of warrants
Apr 12,2017

CHD Chemicals announced that the Board of Directors of the Company at its meeting held on 12 April 2017 has made allotment of 12,15,000 equity shares at an issue price of Rs 10 on conversion of warrants. Subsequently, the paid up equity share capital of the Company has increased to 76,69,080 equity shares of Rs 10 each.

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Outcome of board meeting of CL Educate
Apr 12,2017

CL Educate announced that the Board of Directors of the Company at its meeting held on 12 April 2017 has approved -

Acquisition of (the balance) 49% stake in the Equity Shares of Accendere Knowledge Management Services, making it a Wholly-Owned Subsidiary Company; and

Definitive Agreement with respect to the acquisition of ETEN Test Prep Business.

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Oscar Investments reverses recent steep rally
Apr 12,2017

Meanwhile, the S&P BSE Sensex was down 144.87 points or 0.49% at 29,643.48. The S&P BSE Mid-Cap index was down 72.60 points or 0.49% at 14,852.27

On BSE, so far 1,121 shares were traded in the counter as against average daily volume of 2,629 shares in the past one quarter. The stock hit a high of Rs 404.95 and a low of Rs 370.10 so far during the day. The stock had hit a 52-week high of Rs 408.90 yesterday, 11 April 2017. The stock had hit a 52-week low of Rs 179.10 on 10 June 2016.

The stock had outperformed the market over the past one month till 11 April 2017, rising 63.33% compared with 2.91% rise in the Sensex. The scrip also outperformed the market in past one quarter, surging 79.59% as against Sensexs 9.76% rise.

The small-cap company has equity capital of Rs 17.28 crore. Face value per share is Rs 10.

Oscar Investments net profit rose 217.36% to Rs 12.25 crore on 14.66% rise in total income to Rs 45.76 crore in Q3 December 2016 over Q3 December 2015.

Oscar Investments is an investment firm. The company is a non deposit taking non-banking finance company.

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Karnataka Bank appoints Chairman and MD
Apr 12,2017

The Board of Directors of Karnataka Bank have appointed P.Jayarama Bhat as Part Time (Non Executive) Chairman of the Bank and Mahabaleshwara M.S. as the Managing Director and Chief Executive Officer of the Bank with effect from 12 April 2017.

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Board of Brawn Biotech appoints company secretary and compliance officer
Apr 12,2017

The Board of Directors of Brawn Biotech at its meeting held on 12 April 2017 has approved the appointment of Mamta Surkali as Company Secretary & Compliance Officer of the Company w.e.f. 15 March 2017.

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Board of Amarnath Securities decides to defocus in lending business to explore core competency
Apr 12,2017

Amarnath Securities announced that the Board of Directors of the Company at its meeting held on 12 April 2017 has decided defocusing in the lending business the same being not the expertise segment of current management. In order to explore core competency of existing promoters and add value to stakeholders growth, the board has decided to enter the following segments subject to necessary changes in MoA and AoA and regulatory approvals if any,

Catalysts Research
Intangible Property Rights
Collaborative Research
Process Development

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Majesco corrects on profit booking
Apr 12,2017

Meanwhile, the S&P BSE Sensex was down 198.65 points, or 0.67% to 29,589.70.

On the BSE, 20,000 shares were traded in the counter so far, compared with average daily volumes of 24,722 shares in the past one quarter. The stock had hit a high of Rs 396.10 and a low of Rs 380.15 so far during the day.

The stock hit a 52-week high of Rs 650 on 21 April 2016. The stock hit a 52-week low of Rs 330.15 on 31 March 2017.

The stock had outperformed the market over the past one month till 11 April 2017, rising 11.56% compared with 2.91% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 2.57% as against Sensexs 9.76% rise.

The small-cap company has equity capital of Rs 11.68 crore. Face value per share is Rs 5.

Shares of Majesco rose 18.69% in seven trading sessions to settle at Rs 395.70 yesterday, 11 April 2017, from its close of Rs 333.40 on 30 March 2017.

Shares of Majesco rose 0.55% to settle at Rs 395.70 yesterday, 11 April 2017, after the company announced that a tier two specialty insurer renewed its application management services agreement with Majesco for three years to support a number of key operational systems. The insurer is focused on specialty related insurance in the US. The agreement will provide the insurer end to end support of some of their key operational systems for three years. The application management services are part of Majescos ADM services. The insurer has been a long-term strategic client of Majesco. The announcement was made after market hours on Monday, 10 April 2017.

Majescos consolidated net profit fell 2.68% to Rs 5.07 crore on 2.3% decline in net sales to Rs 202.26 crore in Q3 December 2016 over Q2 September 2016.

Majesco enables insurance business transformation for insurance customers worldwide by providing solutions which include software, consulting and services.

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Nelco zooms 16.36% in nine sessions
Apr 12,2017

Meanwhile, the S&P BSE Sensex was down 169.63 points, or 0.57% at 29,618.72. The S&P BSE Small-cap index was down 58.58 points, 0.39% at 14,866.29.

High volumes were witnessed on the counter. On the BSE, 2.45 lakh shares were traded on the counter so far as against the average daily volumes of 23,777 shares in the past one quarter. The stock had hit a high of Rs 91.90 and a low of Rs 87.15 so far during the day.

The stock had hit a 52-week high of Rs 109.70 on 8 June 2016 and a 52-week low of Rs 68.40 on 22 November 2016. The stock had outperformed the market over the past one month till 11 April 2017, advancing 11.56% compared with the Sensexs 2.91% rise. The scrip had, however, underperformed the market over the past one quarter advancing 2.31% as against the Sensexs 9.76% rise.

The small-cap company has equity capital of Rs 22.82 crore. Face value per share is Rs 10.

Shares of Nelco sizzled 16.36% in nine trading sessions to its current ruling price of Rs 89.60, from a close of Rs 77 on 29 March 2017.

Nelcos consolidated net profit spurted 87.7% to Rs 2.29 crore on 0.52% increase in net sales to Rs 36.49 crore in Q3 December 2016 over Q2 September 2016.

Nelco offers solutions in the areas of integrated security & surveillance, VSAT connectivity (Tatanet VSAT), managed services, satcom projects and meteorological solutions. The company offers a range of innovative and customized solutions for businesses and government institutions under one roof.

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Indiabulls Real Estate jumps after early closure of buyback
Apr 12,2017

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

Meanwhile, the S&P BSE Sensex was down 134 points, or 0.45% to 29,654.35.

On the BSE, 20.73 lakh shares were traded in the counter so far, compared with average daily volumes of 9.40 lakh shares in the past one quarter. The stock had hit a high of Rs 98.50 and a low of Rs 89 so far during the day.

The stock hit a 52-week high of Rs 105.25 on 30 May 2016. The stock hit a 52-week low of Rs 53.65 on 12 April 2016.

The stock had outperformed the market over the past one month till 11 April 2017, rising 16.32% compared with 2.91% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.01% as against Sensexs 9.76% rise.

The mid-cap company has equity capital of Rs 95.68 crore. Face value per share is Rs 2.

The board of directors of Indiabulls Real Estate at its meeting held on 24 November 2016, approved the buyback of equity shares from the the stock exchange mechanism, at a price not exceeding Rs 90 per equity share, for an aggregate amount not exceeding Rs 540 crore.

The buyback commenced from 14 December 2016. Between 14 December 2016 and 10 April 2017, the company bought back 3.40 crore equity shares utilizing a total of Rs 272.05 crore (excluding transaction costs), which represents 50.38% of the maximum buyback size. The highest price at which the equity shares were bought back was Rs 90 per equity share, while the lowest price was Rs. 67 per equity share. The equity shares were bought back at an average price of Rs 79.91 per equity share.

The amount utilized in the buyback of equity shares is 50.38% of the maximum buyback size and is more than the minimum amount required to be utilized in the buyback regulations. Since the company has bought back about 56.74% of the maximum offer shares i.e. 6 crore equity shares and is in excess of minimum offer shares and have utilized 50.38% of the maximum buyback size, the board constituted committee, at its meeting held on 10 April 2017, decided to make an early closure of the buyback with effect from 10 April 2017. Thus the buyback stands closed on Monday 10 April 2017.

On a consolidated basis, Indiabulls Real Estates net profit fell 13.7% to Rs 58.58 crore on 58.8% decline in net sales to Rs 291.21 crore in Q3 December 2016 over Q3 December 2015.

Indiabulls Real Estate is a real estate development company with development projects spread across office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, special economic zones and infrastructure development.

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Volumes jump at Hubtown counter
Apr 12,2017

Hubtown clocked volume of 22.58 lakh shares by 14:14 IST on BSE, a 736.14-times surge over two-week average daily volume of 3,000 shares. The stock jumped 20% to Rs 114.65.

EID Parry (India) notched up volume of 54.64 lakh shares, a 140.53-fold surge over two-week average daily volume of 39,000 shares. The stock surged 6% to Rs 294.

Narayana Hrudayalaya saw volume of 5.01 lakh shares, a 61.74-fold surge over two-week average daily volume of 8,000 shares. The stock rose 0.64% to Rs 323.

Muthoot Capital Services clocked volume of 2.25 lakh shares, a 35.3-fold surge over two-week average daily volume of 6,000 shares. The stock advanced 10.18% to Rs 401.95.

Thomas Cook (India) saw volume of 7.49 lakh shares, a 24.37-fold rise over two-week average daily volume of 31,000 shares. The stock shed 0.23% to Rs 220.05.

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