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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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Volumes jump at Shriram City Union Finance counter
Jan 17,2017

Shriram City Union Finance clocked volume of 2.91 lakh shares by 12:43 IST on BSE, a 641.66-times surge over two-week average daily volume of 454 shares. The stock rose 0.1% to Rs 1,851.

Balkrishna Industries notched up volume of 64,000 shares, a 14.19-fold surge over two-week average daily volume of 5,000 shares. The stock jumped 9.24% to Rs 1,185.60.

Chartered Logistics saw volume of 38.81 lakh shares, a 9.16-fold surge over two-week average daily volume of 4.24 lakh shares. The stock dropped 2.71% to Rs 21.50.

Bajaj Electricals clocked volume of 2.79 lakh shares, a 4.59-fold surge over two-week average daily volume of 61,000 shares. The stock rose 0.02% to Rs 229.70.

Datamatics Global Services saw volume of 22 lakh shares, a 4.58-fold rise over two-week average daily volume of 4.80 lakh shares. The stock surged 14.84% to Rs 158.25.

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Cadila Healthcare gains after announcing settlement on Livalo tablets
Jan 17,2017

The announcement was made during trading hours today, 17 January 2017.

Meanwhile, the BSE Sensex was down 102.27 points, or 0.37%, to 27,185.90.

On the BSE, so far 12,000 shares were traded in the counter, compared with average daily volumes of 64,626 shares in the past one quarter. The stock had hit a high of Rs 352.10 and a low of Rs 348.40 so far during the day.

The stock hit a 52-week high of Rs 429.45 on 1 November 2016. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had underperformed the market over the past 30 days till 16 January 2017, falling 7.15% compared with the 3.01% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.29% as against Sensexs 2.72% decline.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1

Cadila Healthcare, a global pharmaceuticals company, and its subsidiary Zydus Pharmaceuticals (USA) Inc., a leading generic pharmaceutical company in the United States, announced that they have finalized an agreement with Kowa Company, Kowa Pharmaceuticals America, Inc. and Nissan Chemical Industries, to settle all outstanding patent litigation related to Livalo (pitavastatin calcium) tablets.

Under the terms of the agreement, Kowa and Nissan grants Zydus a license to market Zydus generic version of Livalo beginning on 2 May 2023, or earlier under certain circumstances. Other terms of the settlement were not disclosed.

On a consolidated basis, net profit of Cadila Healthcare declined 28.93% to Rs 337.60 crore on 3.08% rise in net sales to Rs 2336.30 crore in Q2 September 2016 over Q2 September 2015.

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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K.P. Energy jumps as board to consider bonus issue
Jan 17,2017

The announcement was made during trading hours today, 17 January 2017.

Meanwhile, the BSE Sensex was down 68.84 points, or 0.25%, to 27,219.33.

On the BSE, so far 1,000 shares were traded in the counter, compared with average daily volumes of 2,583 shares in the past one quarter. The stock had hit a high of Rs 366.60 so far during the day, which is also a record high for the counter.

The stock hit a record low of Rs 70 on 25 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 34.62% compared with the 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 94.44% as against Sensexs 2.72% decline.

The small-cap company has equity capital of Rs 3.42 crore. Face value per share is Rs 10.

K.P. Energy said its board will also consider calling extraordinary general meeting (EGM) of shareholders to seek their approval for the proposed bonus issue of shares.

K.P. Energy is engaged in the business of windmill infrastructure development.

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HIL gains for second day in a row after announcing turnaround Q3 outcome
Jan 17,2017

Meanwhile, the S&P BSE Sensex was down 61.07 points or 0.25% at 27,219.33

On BSE, so far 22,000 shares were traded in the counter as against average daily volume of 2,927 shares in the past one quarter. The stock hit a high of Rs 687.80 and a low of Rs 637 so far during the day.

The stock hit a 52-week high of Rs 721 on 17 October 2016. The stock hit a 52-week low of Rs 421.75 on 25 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 3.96% compared with the 3.01% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 7.38% as against Sensexs 2.72% decline.

The small-cap company has equity capital of Rs 7.46 crore. Face value per share is Rs 10.

HIL reported net profit of Rs 8.06 crore in Q3 December 2016 as compared to net loss of Rs 3.89 crore in Q3 December 2015. Net sales dropped 7.44% to Rs 198.59 crore in Q3 December 2016 over Q3 December 2015. The Q3 result was announced during market hours yesterday, 16 January 2017. The stock had gained 1.91% to settle at Rs 637.95 yesterday, 16 January 2017.

Meanwhile, HIL at fag end of the days trading session yesterday, 16 January 2017 announced that the company has on 14 January 2017 commenced commercial production at its newly established dry mix manufacturing facility at Jhajjar, Haryana. The installed capacity is 72,000 MT (i.e 44,000 MT of wall putty and 28,000 MT of cement based grey mortar) per annum. The products will be marketed under brand name Aerocon, which is one of the most trusted name for building products in the country, HIL said. The companys Jhajjar dry mix plant shall cater to the growing market in Haryana and other states of the country, the company said.

HIL (formerly Hyderabad Industries) is into building material solutions industry. HIL is a pioneer of green building materials, producing roofing solutions, panels, walling blocks, plywood substitutes, high-quality pipes and fittings, and industrial insulation.

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Moodys: Global airline industry outlook remains stable; fuel costs and capacity to be key to upcoming earnings trend
Jan 17,2017

Moodys Investors Service is maintaining its stable outlook on the global airline industry, reflecting the rating agencys expectations of declining but still-strong operating margins relative to the sectors historical levels.

Moodys projects the aggregate operating margin of rated airlines to approach 9% in 2017 and about 8% in 2018, from a projected 10.8% in 2016. This trend reflects declines in operating profit of the rated airlines of about 11% in 2017 and about 12% in 2018, widening from a projected 1.2% contraction in 2016. These rates of change fall within Moodys -20% to 20% range for a stable outlook.

US carriers will still have the industrys highest operating margins, despite being on track to drop by about 20% over the next 12 to 18 months due to modestly higher fuel and increases in labor costs under new union contracts agreed to in 2016 at major airlines, says Moodys Vice President -- Senior Credit Officer Jonathan Root. A mature domestic market, a more rational industry structure and modest exposure to weaker foreign currencies will help US carriers maintain that position.

Legacy carriers in Europe and in increasingly competitive developing markets, on the other hand, face greater challenges to grow their operating margins.

Low-cost, low-fare carriers will advance their expansion across Europe and in long-haul, sustaining pressure on legacy operators, explains Root. It will be much the same across Asia as well.

Passenger demand will continue to trend upwards, albeit slowly, supported by modest but steady global economic growth and increasing air travel in the developing world. Aggregate capacity growth, however, will outstrip growth in aggregate demand by about half a percentage point due to the still relatively low cost of fuel, availability of older aircraft coming off leases and growth of low-cost carriers.

Capacity growth across geographic regions will vary, with the US growing in the low single digits, Europe in the mid-single digits, and, according to IATA, developing markets like Asia and the Middle East growing about 7.5% and 10.0%, respectively. Unrated airlines will lead capacity growth in Latin America in 2017, while rated carriers, LATAM Airlines Group S.A. (B1 stable) and Gol Linhas Aereas Inteligentes S.A. (Caa3 negative), will slow capacity growth in 2017 as they continue to restructure operationally.

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Fortis Healthcare leads losers on BSEs A group
Jan 17,2017

Fortis Healthcare slipped 2.98% at Rs 185.80. The stock topped the losers in A group. On the BSE, 1.55 lakh shares were traded on the counter so far as against the average daily volumes of 4.15 lakh shares in the past two weeks.

Reliance Industries slipped 2.81% at Rs 1,046.70. The stock was the second biggest loser in A group. On the BSE, 4.38 lakh shares were traded on the counter so far as against the average daily volumes of 1.90 lakh shares in the past two weeks.

TV18 Broadcast slipped 3.44% at Rs 36.50. The stock was the third biggest loser in A group. On the BSE, 2.28 lakh shares were traded on the counter so far as against the average daily volumes of 3.78 lakh shares in the past two weeks.

Emami slipped 2.63% at Rs 1,045.20. The stock was the fourth biggest loser in A group. On the BSE, 3,417 shares were traded on the counter so far as against the average daily volumes of 6,398 shares in the past two weeks.

Hindustan Copper slipped 2.45% at Rs 65.80. The stock was the fifth biggest loser in A group. On the BSE, 1.46 lakh shares were traded on the counter so far as against the average daily volumes of 7.78 lakh shares in the past two weeks.

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Tata Power Companys non-fossil fuel capacity stands at 3133 MW
Jan 17,2017

Tata Power Company announced that its total generation capacity from non-fossil fuel source stands at 3133 MW, making it the largest renewable energy company in India. The Companys robust non-fossil fuel portfolio comprises of 693 MW of Hydro, 990 MW of Solar, 1074 MW of Wind, and 375 MW of waste gas based generation. Taking a step further toward building a greener portfolio last year, the Company revised its share of non-fossil fuel based capacity up to 35-40% by 2025.

In FY 2017, the Companys wind generation capacity increased by 82%, up from 591 MW in FY 2016 to 1074 MW in FY 2017.

Its solar generation capacity increased 1554% up from 60 MW in FY 2016 to 990 MW in FY 2017.

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Tata Power Companys non-fossil operating capacity stands at 3060 MW
Jan 17,2017

Tata Power Company announced that its total generation from non-fossil operating capacity stands at 3060 MW, making it the largest renewable energy company in India. The Companys robust non-fossil fuel portfolio comprises of 693 MW of Hydro, 918 MW of Solar, 1074 MW of Wind, and 375 MW of waste gas based generation. Taking a step further toward building a greener portfolio last year, the Company revised its share of non-fossil fuel based capacity up to 35-40% by 2025.

In FY 2017, the Companys wind generation capacity increased by 82%, up from 591 MW in FY 2016 to 1074 MW in FY 2017.

Its solar generation capacity increased 1539% up from 56 MW in FY 2016 to 918 MW in FY 2017.

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Gyan Developers & Builders to announce Q3 results
Jan 17,2017

Gyan Developers & Builders announced that the meeting of the Board of Directors of the Company is scheduled to be held on 24 January 2017, inter alia, to consider the Un-audited financial results of the Company for the Third Quarter ended 31 December 2016.

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Board of Asian Granito India to consider December quarter results
Jan 17,2017

Asian Granito India announced that the meeting of the Board of Directors of the Company will be held on 25 January 2017, inter alia, regarding the following matters:

- To consider and approve the standalone and consolidated unaudited financial results for the quarter ended on 31 December 2016.

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ITC gains after foreign brokerage reiterates buy call
Jan 17,2017

Meanwhile, the BSE Sensex was down 39.23 points, or 0.14%, to 27,248.94.

On the BSE, so far 1.62 lakh shares were traded in the counter, compared with average daily volumes of 10.04 lakh shares in the past one quarter. The stock had hit a high of Rs 251.90 and a low of Rs 248.75 so far during the day.

The stock hit a 52-week high of Rs 266 on 6 September 2016. The stock hit a 52-week low of Rs 178.76 on 29 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 9.82% compared with the 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 1.22% as against Sensexs 2.72% decline.

The large-cap company has equity capital of Rs 1212.14 crore. Face value per share is Re 1.

According to reports, ITC increased rates of two of its mid-market cigarettes by up to 15% in late December 2016.

ITCs net profit rose 10.5% to Rs 2500.03 crore on 9.6% increase in net sales to Rs 9535.47 crore in Q2 September 2016 over Q2 September 2015.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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Asahi Songwon Colors to announce Q3 and 9M results
Jan 17,2017

Asahi Songwon Colors announced that a meeting of Board of Directors of the Company is schedule to be held on 31 January 2017, inter alia, to consider, approve and take on record Un-audited Financial Results for the third quarter and nine months ended 31 December 2016.

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Board of Bombay Dyeing & Manufacturing Company to consider Q3 results
Jan 17,2017

Bombay Dyeing & Manufacturing Company announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider and approve the unaudited financial results of the Company for the third quarter ended 31 December 2016.

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Board of Global Land Masters Corporation to consider December quarter results
Jan 17,2017

Global Land Masters Corporation announced that a Meeting of Board of Directors of the Company, is scheduled to be held on 10 February 2017, inter alia, for taking up the following matter(s):

- To consider, Discuss and if thought fit to approve un-audited financial results for quarter ended on 31 December 2016.

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Shriram EPC gains as board to consider preferential issue of shares
Jan 17,2017

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

Meanwhile, the S&P BSE Sensex was down 36.25 points or 0.13% at 27,251.92.

On the BSE, 56,000 shares were traded on the counter so far as against the average daily volumes of 84,225 shares in the past one quarter. The stock had hit a high of Rs 30.40 and a low of Rs 29 so far during the day.

The stock had hit a 52-week high of Rs 40.80 on 7 November 2016 and a record low of Rs 19 on 8 June 2016. The stock had underperformed the market over the past one month till 16 January 2017, declining 4.78% compared with the Sensexs 3.01% rise. The scrip had, however, outperformed the market over the past one quarter advancing 21.68% as against the Sensexs 1.39% fall.

The small-cap company has equity capital of Rs 783.51 crore. Face value per share is Rs 10.

Shriram EPC said that a meeting of the board of directors of the company is scheduled on 19 January 2017, to consider the issuance of shares in lieu of the working capital term loan to the corporate debt restructuring (CDR) lenders based on reconciliation with the bankers. The board will also consider issuance of shares upto Rs 35 crore to a private limited company on preferential basis.

Shriram EPC reported net loss of Rs 55.03 crore in Q2 September 2016, as against net loss of Rs 17.43 crore in Q2 September 2015. Net sales declined 22.6% to Rs 80.09 crore in Q2 September 2016 over Q2 September 2015.

Shriram EPC offers design, engineering, procurement, construction and project management services for infrastructure projects.

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