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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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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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Dismantling check posts, post- GST save 24-36 hrs trucking time on trunk routes: ASSOCHAM
Jul 11,2017

Notwithstanding some teething troubles, the GST is saving trucking time on trunk routes, connecting top cities, between 24-36 hours besides saving the fleet owners Rs 5,000 -7,500 per trip by way of corruption at the octroi and sales tax/VAT check posts which have since been dismantled by most of the states, an ASSOCHAM quick check has noted.

n++Our quick check has shown that on an average a lorry/truck runs for 10-12 hours a day and should cover a distance of about 2200 KMs between, say Delhi - Chennai in 3 days. However, traversing through different states and braving the stoppages at several check posts of VAT, octroi, other local taxes was resulting in additional two-3 days , including those taken for no entry traffic restrictions for big cities during the day time . So, the consignment between Delhi-Chennai, for instance was taking 5-6 days. At least 24-36 hours would easily be saved for these trunk routes after dismantling of the check posts, by a conservative estimate, said the ASSOCHAM QC after interacting with the fleet owners and transport intermediaries.

Besides, the bigger nuisance of corruption at each of the check posts and through various states would have meant an additional expenditure of Rs 5,000-7500 per trip. Thankfully, that has also been done away and one hopes a new avatar is not found for the same. For now, it has come as a big relief for the transporters who say, the ultimate advantage is accruing to the customers and to the trade and manufacturing value supply chain.

The interaction with the fleet owners revealed that before start of a trip, the crew, comprising driver(s) and helpers was given out of pocket or petty cash of at least Rs 10,000 for the trunk routes of Delhi-Mumbai, Delhi-Kolkata, Mumbai-Jaipur, Ahmedabad-Delhi, Bengaluru- Delhi and so on.

On completion of the trip, the driver would give his account hissab that would include the expenses at each of the forced halt points.

What a relief, it is.... We hope, further improvement is done in this direction in terms of improving other infrastructure. For instance, the no entry traffic restrictions can be done away if high class dedicated bye-passes are constructed around the major cities so that the truckers can play seamlessly. , said ASSOCHAM Secretary General Mr D S Rawat.

Improvement in freight movement through road and rail would not only result in a huge cost saving for the trade and industry but would take India quite high on the global index of Ease of Doing Business.

One hopes that the GST is implemented in earnest by all the states in coordination with the Centre and comes out as a success story for the country, the chamber said.

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Anar Industries provides business update
Jul 11,2017

Anar Industries announced that the Memorandum of Association of the Company has been amended for insertion of new object of oil & gas exploration and to deal in all sorts of bio fuel, bio oil, crude and refined petroleum oils, refined bio oil, refined bio fuel, natural gases, oleaginous and saponaceous substances, their products, by products and other oil field services.

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Volumes jump at HealthCare Global Enterprises counter
Jul 11,2017

HealthCare Global Enterprises clocked volume of 6.31 lakh shares by 13:52 IST on BSE, a 297.85-times surge over two-week average daily volume of 2,000 shares. The stock rose 0.10% to Rs 260.10.

Kalpataru Power Transmission notched up volume of 5.42 lakh shares, a 194.78-fold surge over two-week average daily volume of 3,000 shares. The stock rose 5.62% to Rs 357.20.

Ajanta Pharma saw volume of 26.51 lakh shares, a 71.35-fold surge over two-week average daily volume of 37,000 shares. The stock fell 1.63% to Rs 1,513.25.

Sadbhav Engineering clocked volume of 4.92 lakh shares, a 65.79-fold surge over two-week average daily volume of 7,000 shares. The stock fell 0.12% to Rs 295.45.

8K Miles Software Services saw volume of 2.67 lakh shares, a 26.69-fold rise over two-week average daily volume of 10,000 shares. The stock fell 0.79% to Rs 543.50.

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IndusInd Bank inches up after good Q1 earnings
Jul 11,2017

The result was announced during market hours today, 11 July 2017.

Meanwhile, the S&P BSE Sensex was up 115.75 points or 0.36% at 31,831.39.

On the BSE, 1.23 lakh shares were traded on the counter so far as against the average daily volumes of 68,000 shares in the past two weeks. The stock had hit a high of Rs 1,571.50 so far during the day, which is a record high. The stock hit a low of Rs 1,552.10 so far during the day. The stock had hit a 52-week low of Rs 1,037.85 on 24 November 2016.

The large-cap bank has equity capital of Rs 598.53 crore. Face value per share is Rs 10.

The banks gross non-performing assets (NPAs) stood at Rs 1271.68 crore as on 30 June 2017 as against Rs 1054.87 crore as on 31 March 2017 and Rs 860.64 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 1.09% as on 30 June 2017 as against 0.93% as on 31 March 2017 and 0.91% as on 30 June 2016.

The ratio of net NPAs to net advances stood at 0.44% as on 30 June 2017 as against 0.39% as on 31 March 2017 and 0.38% as on 30 June 2016.

The banks provisions and contingencies rose 34.49% to Rs 309.97 crore in Q1 June 2017 over Q1 June 2016.

IndusInd Bank is one of the leading private sector banks in India.

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Divis Lab extends Mondays rally
Jul 11,2017

Meanwhile, the S&P BSE Sensex was up 158.32 points or 0.5% at 31,873.96.

On the BSE, 2.55 lakh shares were traded on the counter so far as against the average daily volumes of 2.46 lakh shares in the past one quarter. The stock had hit a high of Rs 755.65 and a low of Rs 741.75 so far during the day. The stock had hit a record high of Rs 1,380 on 16 September 2016 and a 52-week low of Rs 533.10 on 29 May 2017.

The stock had outperformed the market over the past one month till 10 July 2017, advancing 12.81% compared with the Sensexs 1.45% rise. The stock had also outperformed the market over the past one quarter, gaining 11.72% as against the Sensexs 7.24% rise. The scrip had, however, underperformed the market over the past one year, sliding 34.56% as against the Sensexs 16.92% rise.

The large-cap company has equity capital of Rs 53.09 crore. Face value per share is Rs 2.

Shares of Divis Laboratories have surged 9.66% in two trading sessions from its closing of Rs 680.15 on 7 July 2017, after the company announced during market hours yesterday, 10 July 2017 that the US health regulator will lift the import alert imposed on the companys Unit-II at Visakhapatnam. The stock surged 7.94% in a single trading session to settle at Rs 734.15 yesterday, 10 July 2017.

Divis Laboratories had earlier informed that the United States Food and Drug Administration (USFDA) has issued an Import Alert under clauses 99-32 and 66-40 in March of 2017 and a warning letter in May of 2017 for its Vishakhapatnam facility.

Divis had filed detailed responses and given updates to the Form-483 and the warning letter within the stipulated time. Divis Laboratories, along with its external consultants, specialists and subject matter experts, had taken up appropriate remediation measures to address the concerns raised by USFDA.

Divis Laboratories net profit fell 19.5% to Rs 259.29 crore on 3.5% decline in net sales to Rs 1063.14 crore in Q4 March 2017 over Q4 March 2016.

Divis Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics; custom synthesis of APIs and advanced intermediates for discovery compounds for pharma giants; building blocks for peptides; building blocks for nucleotides; carotenoids; and chiral ligands.

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Ministry of Civil Aviation seeks to upgrade its AirSewa web portal; consults stakeholders for designing AirSewa 2.0
Jul 11,2017

The Ministry of Civil Aviation held a meeting of all stakeholders last week to invite suggestions for designing AirSewa 2.0, the upgraded version of the AirSewa web portal and mobile app that was launched in November last year to make air travel convenient and hassle-free. Nodal Officers of all stakeholders like Airlines, Airports, Immigration, Customs, DGCA, etc attended the meeting. Valuable suggestions for service improvement, enhancing user comfort and quick redressal of complaints were received and will be considered for incorporation in the design of AirSewa 2.0.

This follows the success of AirSewa1.0 which has been received well, with around 19,000 app downloads so far and over 65,000 web portal hits since its launch. More than 92% of grievances have been resolved and most of them within the stipulated time limits.

The Ministry is committed to providing a safe, and comfortable air travel experience to users. Flight delays, problem in refunds, long queues, inadequate facilities at airports and complaints of lost baggage are the most common problems that air travelers face. n++There was a need to respond to these problems in a systematic manner rather than on ad-hoc basis. n++The Ministry had launched AirSewa web portal and mobile app on 26.11.2016 to address this need.

AirSewa is operated through an interactive web portal and a mobile app for both Android and iOS platforms. n++e-portal includes a mechanism for grievance redressal, back office operations for grievance handling, flight status/schedule information, airport Information and FAQs.

Users can now check live flight status for all inbound and outbound flights in a single click. Information regarding weather conditions and services for some selected airports is also available on this portal. Flights can be searched by flight number or for all flights to or from a particular airport. Information such as airport services like wheel chair, transport/parking, rest and relax, Wifi services etc. can also be easily accessed.

Timely and satisfactory grievance redressal was an important priority as users had to approach several stakeholders to get their grievances redressed. AirSewa is a one-stop solution for grievance redressal as passengers can now register any grievance on the mobile app or web portal. Thn++ey can also upload voice or video along with an elaborate description of their issues.

Thn++e portal has helped make the grievance redressal system responsive, transparent, accountable and efficient by using technology. Users can now track the status and response through reference number provided. n++There are stipulated timelines in place to address the issue. n++The portal is closely monitored by control room to ensure timely and effective redressal. A message is sent to the concerned nodal officer if any grievance remains unattended or unresolved. To improve the user experience an option to provide feedback and rate the overall experience and satisfaction has been provided.

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