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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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Shree Cement leads losers in BSEs A group
May 17,2017

Shree Cement declined 5.84% at Rs 18,780 at 13:38 IST after net profit fell 54.1% to Rs 304.51 crore on 19.1% increase in net sales to Rs 2380.26 crore in Q4 March 2017 over Q4 March 2016. The stock topped the losers in A group. On the BSE, 7,207 shares were traded on the counter so far as against the average daily volumes of 657 shares in the past two weeks.

Punjab National Bank fell 4.18% at Rs 167.25. The stock was the second biggest loser in A group. On the BSE, 16.51 lakh shares were traded on the counter so far as against the average daily volumes of 17.24 lakh shares in the past two weeks.

Edelweiss Financial Services skid 4.11% at Rs 182. The stock was the third biggest loser in A group. On the BSE, 7.58 lakh shares were traded on the counter so far as against the average daily volumes of 10.12 lakh shares in the past two weeks.

Religare Enterprises was down 3.91% at Rs 184.20. The stock was the fourth biggest loser in A group. On the BSE, 2,702 shares were traded on the counter so far as against the average daily volumes of 27,000 shares in the past two weeks.

Andhra Bank lost 3.75% at Rs 68.05. The stock was the fifth biggest loser in A group. On the BSE, 4.79 lakh shares were traded on the counter so far as against the average daily volumes of 6.63 lakh shares in the past two weeks.

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INR2.6 Trillion of Bank Credit Could Potentially Slip in the Next 12-18 Months
May 17,2017

India Ratings and Research (Ind-Ra) estimates that potentially INR2.6 trillion of corporate and SME loans (3.2% of total bank credit) will be recognised as stressed loans by FY19. As per Ind-Ra analysis Indian banks are sitting on unrecognised stressed loans worth of INR7.7 billion. India Ratings study pegs stressed corporate and SME debt at 22% of total bank credit. While a sizeable proportion of the unrecognised stressed exposure has strong group linkage or some form of parental support, potentially half of it could further slip in the next 12-18 months. The recognised stressed corporate and SME loans in the system stands at around 12% of total bank credit.

India Ratings highlighted that impaired assets will peak at 12.5%-13% by FY18/FY19. Credit costs however will show an extended recovery period (FY18F:185bp; FY16:230bp), as a large proportion of recently acquired higher-bucket non-performing loans keep aging. This will keep the return on assets (RoAs) for public sector banks and private sector banks at around 20bp below their respective long-term medians.

India Ratings estimates that out of the total unrecognised stressed book that banks are sitting on, around 1.8% is to stressed public sector units, around 2% of it either enjoys some group support and could flow to joint lender forum or would be subject to asset sale, around 2.9% could be the addition to the restructured book from infrastructure projects and 3.2% is the potential slippage in next 12-18 months.

The sector wise break up of stress shows some interesting findings; the sectors which have the highest unrecognised stressed exposure include infrastructure, power, telecom and real estate among a few other sectors. While the iron and steel sector has seen lot of stress recognition in the Asset Quality Review exercise conducted by the Reserve Bank of India in the last fiscal, provisioning continues to remain inadequate considering higher loss given default estimates. Some sectors including infrastructure, real estate among others have lower amount of stress recognised as in many cases they enjoy group support.

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Capital First to issue NCDs aggregating Rs 50 crore
May 17,2017

Capital First announced that the Debenture Committee constituted by the Board of Directors of the Company at its meeting held 17 May 2017, has inter - alia approved an issue of Rated, Listed, Secured, Redeemable, Non-Convertible Debentures of Rs 50 crore plus Green Shoe Option of Rs 50 crore on private placement basis.

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Avanti Feeds sizzles 43.5% on post-result rally
May 17,2017

Meanwhile, the S&P BSE Sensex was down 4.95 points or 0.02% at 30,577.65. The BSE Mid-Cap index was up 4.72 points or 0.03% at 15,085.11.

On the BSE, 83,000 shares were traded on the counter so far as against the average daily volumes of 16,147 shares in the past one quarter. The stock had hit a high of Rs 1,349 so far during the day, which is a record high. The stock hit a low of Rs 1,170.10 so far during the day.

The stock had hit a 52-week low of Rs 411 on 9 November 2016. It had outperformed the market over the past one month till 16 May 2017, advancing 38.89% compared with the Sensexs 3.81% rise. The scrip had also outperformed the market over the past one quarter, advancing 101.83% as against the Sensexs 8.06% rise.

The mid-cap company has equity capital of Rs 9.08 crore. Face value per share is Rs 2.

Shares of Avanti Feeds have rallied 43.5% in three trading sessions from its closing of Rs 898.30 on 12 May 2017 after the company announced strong Q4 March 2017 earnings on Saturday, 13 May 2017.

On consolidated basis, Avanti Feeds net profit surged 168.6% to Rs 83.88 crore on 50.8% increase in net sales to Rs 699.30 crore in Q4 March 2017 over Q4 March 2016.

The companys consolidated net profit rose 36.1% to Rs 214.35 crore on 35.4% increase in net sales to Rs 2701.98 crore in the year ended March 2017 over the year ended March 2016.

Avanti Feeds is the leading manufacturer of prawn and fish feeds and shrimp processor and exporter from India.

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FICCI urges the Govt. to curb the menace of smuggled and counterfeit goods in the country
May 17,2017

According to FICCI smuggling and counterfeiting severely harms the economy of a country in multidimensional ways. It undermines the local industry, suppresses innovation and investment, discourages legal imports, reduces the volume of revenues collected from duties and levies by the government, fuels transnational crimes and hampers the health of citizens. The ill effects are felt widely across industries.

Alarmed by the pace at which such goods are growing and in order to bring adequate attention to the magnitude of the problem, FICCI has undertaken in depth research on the magnitude of the problem and shared the findings with policy makers from Ministry of Finance, Cabinet Secretariat and Prime Ministers office, urging them to take swift action to clamp down the rising illicit trade in smuggled and counterfeit goods in India.

India is one of the growth engines of the global economy and as the Indian economy grows it is faced with the challenges posed by the growth of smuggled and counterfeit goods. To deal with a problem of this extent, it is vital to highlight the enormity of the problem and take firm steps to eradicate the nation-wide menace.

FICCI has a dedicated body Committee Against Smuggling and Counterfeiting Activities Destroying the Economy (CASCADE) - a unique forum addressing the problem of growing illicit trade in counterfeits, pass offs and smuggled goods in India. As per FICCI CASCADE reports, the estimated loss to the industry in just 7 industry sectors is Rs 1,05,381 crores, an increase of 44.4% between 2011-12 to 2013-14.

The market for contraband and smuggled goods is thriving in India and is today one of the biggest challenges faced by Indian industry. As per FICCI CASCADE report, the total loss to the government on account of illicit markets in just seven manufacturing sectors is Rs 39,239 crores in 2014. Amongst the various sectors, the maximum revenue loss to the exchequer on account of counterfeiting and illicit trade is attributed to tobacco products, estimating a revenue loss of Rs. 9139 crores followed by mobile phones at Rs 6705 crore and alcoholic beverages at Rs 6309 crore.

According to FICCIs recent report - Invisible Enemy - A Threat to Our National Interests - focusing on the negative impact of smuggled goods on the Indian economy and businesses, the smugglers are now switching over to cigarettes and fabric/silk yarn as they are low-risk, highreward goods. As per the report, in the last one year, the DRI seizures of smuggled cigarettes has increased by 78% (from Rs. 90.75 crores in 2014-15 to Rs. 162 crore in 2015-16) followed by fabric/silk yarn, where the increase is by 73% (from Rs. 24.03 crores in 2014-15 to Rs. 41.78 crore in 2015-16). The seizures of gold have witnessed an increase of 61% (from Rs. 692.35 crore in 2014-15 to Rs. 1119.11 crore in 2015-16). While the DRI seizures of machinery parts and electronic items has seen a decline.

The report establishes a relationship between high taxes and availability of illicit products. High tax rates tend to exacerbate illicit markets by creating greater demand for cheap and counterfeit substitutes. A significant reason being that high tariffs and taxes create opportunities for those involved in illicit markets to step in and supply reduced versions of the original product at lower prices. Considerable differences in tax rates between states open up opportunities for illegal cross-border trade. A perspective of having the right balance between tax revenue targets and consumer interests is therefore imperative. The Goods and Service Tax (GST), will have to take due care to rectify this anomaly in taxation policy and set this imbalance right.

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Dr Reddys Laboratories gets USFDA approval to launch Doxorubicin Hydrochloride Liposome Injection
May 17,2017

Dr Reddys Laboratories announced that it has received approval from USFDA to launch Doxorubicin Hydrochloride Liposome Injection, a therapeutic equivalent generic version of Doxil, for intravenous use, in the United States market.

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JB Chemicals & Pharmaceuticals gains on buyback plan
May 17,2017

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

Meanwhile, the S&P BSE Sensex was up 4.83 points, or 0.02% to 30,587.43.

On the BSE, 27,000 shares were traded in the counter so far, compared with average daily volumes of 11,125 shares in the past one quarter. The stock had hit a high of Rs 363.05 and a low of Rs 348 so far during the day. The stock hit a record high of Rs 403.60 on 14 October 2016. The stock hit a 52-week low of Rs 231 on 24 June 2016.

The stock had outperformed the market over the past one month till 16 May 2017, rising 4.25% compared with 3.97% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.15% as against Sensexs 8.62% rise.

The small-cap company has equity capital of Rs 16.96 crore. Face value per share is Rs 2.

JB Chemicals & Pharmaceuticals said that its board will meet 23 May 2017 to consider the proposal for buyback of fully paid-up equity shares by the company.

Net profit of J B Chemicals & Pharmaceuticals declined 23.72% to Rs 35.76 crore on 1.83% decline in net sales to Rs 265.62 crore in Q3 December 2016 over Q3 December 2015.

JB Chemicals & Pharmaceuticals is one of Indias fastest growing pharmaceutical companies. It makes a range of innovative specialty products that include various pharmaceutical dosage forms like tablets, injectable (vials, ampoules, form fill seal), creams & ointments, lozenges, herbal liquids and capsules.

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Amrit Corp vaults 36.3% in two sessions on post-result boost
May 17,2017

Meanwhile, the S&P BSE Sensex was down 12.78 points or 0.04% at 30,569.82. The S&P BSE Small-Cap index was down 12.76 points or 0.08% at 15,696.83.

On the BSE, 2,574 shares were traded on the counter so far as against the average daily volumes of 580 shares in the past one quarter. The stock had hit a high of Rs 862 so far during the day, which is a record high. The stock hit a low of Rs 768 so far during the day.

The stock had hit a 52-week low of Rs 306 on 24 May 2016. It had outperformed the market over the past one month till 16 May 2017, surging 57.39% compared with the Sensexs 3.81% rise. The scrip had also outperformed the market over the past one quarter, advancing 70.32% as against the Sensexs 8.06% rise.

The small-cap company has equity capital of Rs 3.21 crore. Face value per share is Rs 10.

Shares of Amrit Corp have rallied 36.3% two trading sessions from its closing of Rs 615 on 15 May 2017, after the company reported strong Q4 March 2017 earnings after market hours on Monday, 15 May 2017. The stock spurted by the maximum permissible level of 20% to settle at Rs 738 yesterday, 16 May 2017.

Amrit Corps net profit spurted 198.4% to Rs 3.73 crore on 23.9% increase in net sales to Rs 12.07 crore in Q4 March 2017 over Q4 March 2016.

Amrit Corp is the flagship holding company of the Amrit Group. The company operates in various segments viz. dairy milk & milk products, real estate and services & commodities trading.

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Amrit Corp vaults 36.3% in two sessions on earnings boost
May 17,2017

Meanwhile, the S&P BSE Sensex was down 12.78 points or 0.04% at 30,569.82. The S&P BSE Small-Cap index was down 12.76 points or 0.08% at 15,696.83.

On the BSE, 2,574 shares were traded on the counter so far as against the average daily volumes of 580 shares in the past one quarter. The stock had hit a high of Rs 862 so far during the day, which is a record high. The stock hit a low of Rs 768 so far during the day.

The stock had hit a 52-week low of Rs 306 on 24 May 2016. It had outperformed the market over the past one month till 16 May 2017, surging 57.39% compared with the Sensexs 3.81% rise. The scrip had also outperformed the market over the past one quarter, advancing 70.32% as against the Sensexs 8.06% rise.

The small-cap company has equity capital of Rs 3.21 crore. Face value per share is Rs 10.

Shares of Amrit Corp have rallied 36.3% two trading sessions from its closing of Rs 615 on 15 May 2017, after the company reported strong Q4 March 2017 earnings after market hours on Monday, 15 May 2017. The stock spurted by the maximum permissible level of 20% to settle at Rs 738 yesterday, 16 May 2017.

Amrit Corps net profit spurted 198.4% to Rs 3.73 crore on 23.9% increase in net sales to Rs 12.07 crore in Q4 March 2017 over Q4 March 2016.

Amrit Corp is the flagship holding company of the Amrit Group. The company operates in various segments viz. dairy milk & milk products, real estate and services & commodities trading.

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Career Point zooms after reporting strong Q4 results
May 17,2017

The result was announced after market hours yesterday, 16 May 2017.

Meanwhile, the S&P BSE Sensex was up 7.58 points, or 0.02% at 30,590.18. The S&P BSE Small-cap index was down 3.23 points, 0.02% at 15,706.36.

High volumes were witnessed on the counter. On the BSE, 77,000 shares were traded on the counter so far as against the average daily volumes of 4,946 shares in the past one quarter. The stock had hit a high of Rs 116.85 and a low of Rs 108.45 so far during the day.

The stock had hit a 52-week high of Rs 141.75 on 26 October 2016 and a 52-week low of Rs 100.05 on 30 September 2016. The stock had underperformed the market over the past one month till 16 May 2017, declining 6.86% compared with the Sensexs 3.81% rise. The scrip had also underperformed the market over the past one quarter declining 10.11% as against the Sensexs 8.06% rise.

The small-cap company has equity capital of Rs 18.13 crore. Face value per share is Rs 10.

Career Point caters to the needs of a student throughout the life cycle of a student (KG to PhD) while operating in both formal and informal education streams.

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Umang Dairies jumps after resuming operations at Gajraula plant
May 17,2017

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

Meanwhile, the S&P BSE Sensex was up 7.36 points, or 0.02% to 30,589.96.

On the BSE, 33,000 shares were traded in the counter so far, compared with average daily volumes of 42,280 shares in the past one quarter. The stock had hit a high of Rs 91.05 and a low of Rs 82.45 so far during the day. The stock hit a record high of Rs 101 on 27 October 2016. The stock hit a 52-week low of Rs 60.75 on 17 August 2016.

The stock had underperformed the market over the past one month till 16 May 2017, falling 2.49% compared with 3.97% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.85% as against Sensexs 8.62% rise.

The small-cap company has equity capital of Rs 11 crore. Face value per share is Rs 5.

Earlier on 28 April 2017, Umang Dairies had informed that it had temporarily shut down its plant in Gajraula, Uttar Pradesh to comply with the order of the National Green Tribunal (NGT).

NGT has now passed an order permitting the operations at the companys plant at Gajraula.

Umang Dairies reported net loss of Rs 0.18 crore in Q3 December 2016 compared with net profit of Rs 2.79 crore in Q3 December 2015. Net sales rose 9% to Rs 36.43 crore in Q3 December 2016 over Q3 December 2015.

Umang Dairies is a dairy product manufacturing company. It makes skimmed milk powder (SMP), whole milk powder, dairy creamers, dairy whiteners, tea & coffee premixes, pure ghee, fresh cream, and butter, etc.

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Prakash Industries provides financial update
May 17,2017

Prakash Industries announced that it was in discussion with Rural Electrification Corporation for restructuring of its term loan, which has now been restructured. With this, the total Rupee liability repayment has been aligned with the projected operational cash flow of the Company.

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Whirlpool of India gains after decent Q4 numbers
May 17,2017

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

Meanwhile, the S&P BSE Sensex was up 21.21 points, or 0.07% to 30,603.81.

On the BSE, 3,270 shares were traded in the counter so far, compared with average daily volumes of 23,507 shares in the past one quarter. The stock had hit a high of Rs 1,214.15 and a low of Rs 1,191 so far during the day. The stock hit a record high of Rs 1,289.55 on 29 March 2017. The stock hit a 52-week low of Rs 720.05 on 20 May 2016.

The stock had underperformed the market over the past one month till 16 May 2017, falling 1.30% compared with 3.97% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 24.45% as against Sensexs 8.62% rise.

The large-cap company has equity capital of Rs 126.87 crore. Face value per share is Rs 10.

Whirlpool of Indias net profit rose 29.4% to Rs 310.49 crore on 14.6% rise in net sales to Rs 3940.77 crore in Q4 March 2017 over Q4 March 2016.

Whirlpool of India is one of the leading manufacturers and marketers of major home appliances in the country.

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Dhanlaxmi Bank spurts after turnaround in Q4
May 17,2017

The result was announced after market hours yesterday, 16 May 2017.

Meanwhile, the S&P BSE Sensex was up 21.62 points or 0.07% at 30,604.22. The S&P BSE Small-Cap index was up 14.85 points or 0.09% at 15,724.44

On the BSE, 10.25 lakh shares were traded on the counter so far as against the average daily volumes of 4.81 lakh shares in the past one quarter. The stock had hit a high of Rs 44.70 so far during the day, which is a 52-week high. The stock hit a low of Rs 42 so far during the day.

The stock had hit a 52-week low of Rs 17.20 on 24 May 2016. It had outperformed the market over the past one month till 16 May 2017, surging 8.34% compared with the Sensexs 3.81% rise. The scrip had also outperformed the market over the past one quarter, advancing 67.01% as against the Sensexs 8.06% rise.

The small-cap bank has equity capital of Rs 209.85 crore. Face value per share is Rs 10.

The banks total income declined 8.5% to Rs 296.34 crore in Q4 March 2017 over Q4 March 2016.

The banks gross non-performing assets (NPAs) stood at Rs 315.60 crore as on 31 March 2017 as against Rs 503.83 crore as on 31 December 2016 and Rs 458.92 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances stood at 4.78% as on 31 March 2017 as against 7.59% as on 31 December 2016 and 6.36% as on 31 March 2016. The ratio of net NPAs to net advances stood at 2.58% as on 31 March 2017 as against 2.9% as on 31 December 2016 and 2.78% as on 31 March 2016.

The banks provisions and contingencies rose 42.1% to Rs 29.65 crore in Q4 March 2017 over Q4 March 2016.

Dhanlaxmi Bank is a private-sector bank incorporated in 1927 at Thrissur in Kerala.

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Advance Metering Technology to hold board meeting
May 17,2017

Advance Metering Technology will hold a meeting of the Board of Directors of the Company on 22 May 2017.

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