My Application Form Status

Check the status of your application form with Angel Broking.
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.

Powered by Capital Market - Live News

Gujarat Apollo Industries reports standalone net profit of Rs 13.86 crore in the September 2016 quarter
Nov 14,2016

Net profit of Gujarat Apollo Industries reported to Rs 13.86 crore in the quarter ended September 2016 as against net loss of Rs 0.13 crore during the previous quarter ended September 2015. Sales declined 41.30% to Rs 13.09 crore in the quarter ended September 2016 as against Rs 22.30 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales13.0922.30 -41 OPM %-11.84-2.47 - PBDT14.470.40 3518 PBT13.86-0.13 LP NP13.86-0.13 LP

Powered by Capital Market - Live News

Winsome Yarns reports standalone net loss of Rs 3.90 crore in the September 2016 quarter
Nov 14,2016

Net Loss of Winsome Yarns reported to Rs 3.90 crore in the quarter ended September 2016 as against net loss of Rs 3.88 crore during the previous quarter ended September 2015. Sales declined 4.44% to Rs 85.37 crore in the quarter ended September 2016 as against Rs 89.34 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales85.3789.34 -4 OPM %0.535.32 - PBDT0.464.85 -91 PBT-3.900.56 PL NP-3.90-3.88 -1

Powered by Capital Market - Live News

Global sovereign outlook is negative due to persistent low growth, fiscal concerns and political risks
Nov 14,2016

The outlook for sovereign ratings globally for the coming 12 to 18 months is negative, Moodys Investors Service said in its annual Global Sovereign Outlook. That outlook reflects Moodys assessment of the direction of fundamental credit conditions for sovereigns over the coming year.

The key drivers of the negative outlook are a combination of continued low growth, a shift towards fiscal stimulus that will increase already high public sector debt, and rising political and geopolitical risks. Many emerging markets remain exposed to the risk of a reversal in capital flows.

That broad outlook is reflected in Moodys ratings. 26% of Moodys 134 rated sovereigns currently carry a negative outlook, compared to 17% a year ago, the largest proportion since late 2012. The share of sovereigns with a stable outlook has fallen to 65% from 75% last year, while 9% have a positive outlook, similar to last year with 8%.

One of the key credit constraints for most rated sovereigns is the persistently low growth environment, said Alastair Wilson, Moodys Managing Director -- Sovereign Risk. Monetary policys ability to support growth in advanced economies is diminishing, and in many emerging markets it is constrained by above-target inflation and exchange-rate pressures. So we are seeing a gradual but broad-based shift in policy towards loosening fiscal policy in order to lift growth.

Fiscal stimulus, for example in the form of higher public investment funded by historically cheap debt, can support growth in the near-term and also have positive longer-term effects if investment raises productivity growth.

However, a shift towards looser fiscal policy carries risks for the creditworthiness of many sovereigns, given generally already elevated debt levels. Any increase in debt to finance current spending that has little lasting benefit to economic growth prospects would be negative.

Political dynamics complicate the outlook for many sovereigns. There are increasing risks of policy inertia and reversal, including of policies that have brought large benefits to the global economy, such as those that expanded global trade. Geopolitical risks are rising in many regions as well.

Country- and region-specific risks include the uncertain impact of the US (Aaa stable) election outcome on the USs medium-term fiscal strength, and of its future trade and security policies on the rest of the world.

In Europe, Moodys notes the lack of cohesion and risk of further fragmentation following, among other things, the vote of the UK (Aa1 negative) to leave the EU.

Many commodity-exporting countries have to adjust their growth expectations and public finances to less favourable external conditions.

A fourth risk factor is, as it was last year, the possibility of a significant and sustained reversal of global capital flows away from emerging market economies with a high dependence on foreign capital. Elevated volatility in financial markets and sharp movements in exchange rates could exacerbate already weak economic fundamentals and existing political risks, in particular in countries dependent on external capital inflows.

Some countries, including commodity exporters in Sub-Saharan Africa, already face significant liquidity pressures. The implications of the US election outcome for the direction of global capital flows are hard to predict at this stage.

Powered by Capital Market - Live News

Moodys Liquidity-Stress Index hits 2-year high in September
Nov 14,2016

Moodys Liquidity-Stress Index (LSI) for EMEA speculative-grade companies worsened to 12.6% in September 2016, after rising 1.3% in Q3 2016, as refinancing and liquidity pressures continue to affect some companies despite debt capital markets being benign, says the rating agency.

Moodys Liquidity-Stress Index falls when corporate liquidity appears to improve and rises when it appears to weaken.

While the latest reading represents the largest move in the index since liquidity pressures in commodity sectors in Q3 2015, deterioration is unlikely to continue at the current pace into 2017, explains Tobias Wagner, a Moodys Vice President -- Senior Analyst. The trend nevertheless highlights ongoing liquidity pressures for some firms into 2017, despite solid liquidity profiles for most companies.

Negative changes in SGL scores in Q3 2016 outnumbered positive changes by a factor of four. Such a significant uptick in negative changes underlines that some companies across industries will continue to face issues with refinancing and liquidity despite currently benign debt capital markets.

Moodys expects that the LSI will be stable or increase in 2017 as a repeat influx of first-time issuers with adequate or good liquidity profiles, similar to the boom years of 2013-14, is unlikely.

However, there are other indicators suggesting a slight easing in credit pressures. Industry sector outlooks remain mostly stable globally, and there were more positive than negative changes in Q3 2016. In addition, upgrades exceeded downgrades in the third quarter of 2016 for the EMEA region.

While this is encouraging, prospects for widespread liquidity improvements appear limited. Macroeconomic growth remains low and high-yield bond markets remain exposed to external factors, including the impact of potential interest rate rises in the US and possible QE tapering in Europe.

Some companies, particularly with low credit qualities and possible uneven performance track records, may find it challenging to find their window of opportunity to refinance in the market in 2017.

The report also comments that commodity sector liquidity pressures in EMEA have been slower to ease than in North America, while the current trend towards weak covenant protection in the EMEA leveraged finance sector has led to improvements in covenant subscores as weaker covenants are less likely to restrict access to liquidity sources such as revolving credit facilities.

Powered by Capital Market - Live News

Exemption of fee on National Highways extended
Nov 14,2016

In order to ensure smooth movement of traffic on national highways the government has decided to extend the suspension of fees on all toll plazas on National Highways across the country till the midnight of 18 November 2016. Earlier the exemption had been allowed till the midnight of 11 November 2016, and then extended till 14 November 2016.

Powered by Capital Market - Live News

Moodys: Global growth to stabilize in 2017 as US, emerging market economies improve
Nov 14,2016

Global economic growth will be tepid compared with historical averages over the next two years and risks remain, according to a report by Moodys Investors Service. Nonetheless, growth will pick up from the very weak levels in 2016, as the outlook for the US and emerging economies improves slightly.

Moodys expects global growth to climb to about 3% next year and in 2018 from 2.6% in 2016. Among major advanced and emerging economies, India will log the fastest growth next year, while Italy, Japan and Brazil will have the weakest expansions.

The US economy is forecast to expand 2.2% in 2017 from around 1.6% this year, as consumer spending is supported by healthy job and wage prospects, even as business investment remains weak.

Following the election, the risks to the US growth forecasts depend on the incoming administrations policies, said Madhavi Bokil, a Vice President and Senior Analyst at Moodys.

While prolonged policy uncertainty could weigh on an already weak investment growth, there could be an upside to growth in the short term from increased fiscal expenditure, tax cuts or higher infrastructure spending, said Bokil. A restrictive stance on trade would be detrimental in the medium term.

In emerging markets, growth will be driven by improvements in both the political environment and the economic sentiment in countries including Brazil and Argentina, as well as by reform momentum in India and Indonesia. The Chinese economy has continued to grow at a solid pace, in part through fiscal and monetary policy support.

After five years of steady deceleration, emerging market economies are poised to return to faster growth in 2017, said Elena Duggar, an Associate Managing Director at Moodys. However, although growth is improving, we expect it to be considerably lower than what emerging markets experienced in the years leading up to the financial crisis.

Moodys expects G20 emerging market growth to average about 5% in 2017 and 2018, up from an estimated 4.4% in 2016.

Underlying Moodys belief that emerging market economies will experience a turnaround next year is the fact that many of these countries have already undergone considerable external adjustments in response to slower trade and a steady decline in commodity prices.

Powered by Capital Market - Live News

Fitch: Most Asian Telcos to Come Under Pressure in 2017
Nov 14,2016

Fiercer competition and rising capex needs will put pressure on the credit profiles of most Asian telcos over the next year, says Fitch Ratings. We have a negative outlook on the telecoms sectors in India, Singapore, Malaysia, Thailand and the Philippines. Korea, Indonesia, China and Sri Lanka are all on stable outlook.

Competition is likely to intensify in India, Singapore and Malaysia, with new entrants poised to offer cheaper tariffs to poach customers from incumbents. Competition could be the most intense in India, where a well-capitalised new entrant, Reliance Jio, is offering free voice and text services and cheaper data tariffs than the incumbents. We expect the blended tariff to decline by 5%-6% for Indian telcos. In Malaysia, the fixed-line market leader, Telekom Malaysia, is making a move into the wireless market, which will prevent a recovery in the revenue of wireless incumbents next year. Finally, Singapore will soon auction sufficient spectrum to allow the entry of a fourth mobile network operator.

Rising competition will add to pressure on revenue, which Fitch expects to grow by just 0-5% in most Asian telco markets in 2017. Data usage will continue to rise strongly, but most telcos are pricing data in such a way that increased usage is not translating into similar revenue growth. The trend of falling data tariffs and the substitution of data for voice and text will continue in most markets. Fixed-line and international long-distance services are in a structural decline. China is the only market where we expect higher data usage to translate into growth in average revenue per mobile user.

Weak revenue growth will result in a hit to the profit of most Asian telcos. EBITDA margins are likely to shrink the most in the Philippines and India, where telcos still derive the majority of their revenue from voice and text services. Chinese and Korean telcos profitability will remain stable, reflecting weaker competition and lower marketing and handset subsidy costs. Chinese telcos will benefit further from lower tower lease rental costs.

Rising capex needs will mean that many Asian telcos will have minimal-to-negative free cash flow next year. Thai, Philippine and Indian telcos are likely to have the highest capex/revenue ratios, at around 28%-30%, as they strengthen 4G networks in response to fast-growing data consumption and the rising importance of network quality. In contrast, Chinese telcos capex could decline by 10% as their 4G development cycle has peaked.

We expect industry consolidation in India, Indonesia and Sri Lanka, as weaker telcos exit the market or seek M&A to strengthen their competitive position. The Sri Lankan market looks particularly crowded and ripe for consolidation. Debt-funded M&A could threaten the ratings of acquirers in these markets.

Among the Fitch-rated Asian telcos, Singapore Telecom (A+/Stable), Telekom Malaysia Berhad (A-/Stable), Reliance Communications (BB-/Stable), Global Cloud Xchange (B+/Stable) and PT Tower Bersama Infrastructure Tbk (BB/Stable) have low ratings headroom.

Powered by Capital Market - Live News

Fitch: Most Asian Telcos to Come Under Pressure in 2017
Nov 14,2016

Fiercer competition and rising capex needs will put pressure on the credit profiles of most Asian telcos over the next year, says Fitch Ratings. We have a negative outlook on the telecoms sectors in India, Singapore, Malaysia, Thailand and the Philippines. Korea, Indonesia, China and Sri Lanka are all on stable outlook.

Competition is likely to intensify in India, Singapore and Malaysia, with new entrants poised to offer cheaper tariffs to poach customers from incumbents. Competition could be the most intense in India, where a well-capitalised new entrant, Reliance Jio, is offering free voice and text services and cheaper data tariffs than the incumbents. We expect the blended tariff to decline by 5%-6% for Indian telcos. In Malaysia, the fixed-line market leader, Telekom Malaysia, is making a move into the wireless market, which will prevent a recovery in the revenue of wireless incumbents next year. Finally, Singapore will soon auction sufficient spectrum to allow the entry of a fourth mobile network operator.

Rising competition will add to pressure on revenue, which Fitch expects to grow by just 0-5% in most Asian telco markets in 2017. Data usage will continue to rise strongly, but most telcos are pricing data in such a way that increased usage is not translating into similar revenue growth. The trend of falling data tariffs and the substitution of data for voice and text will continue in most markets. Fixed-line and international long-distance services are in a structural decline. China is the only market where we expect higher data usage to translate into growth in average revenue per mobile user.

Weak revenue growth will result in a hit to the profit of most Asian telcos. EBITDA margins are likely to shrink the most in the Philippines and India, where telcos still derive the majority of their revenue from voice and text services. Chinese and Korean telcos profitability will remain stable, reflecting weaker competition and lower marketing and handset subsidy costs. Chinese telcos will benefit further from lower tower lease rental costs.

Rising capex needs will mean that many Asian telcos will have minimal-to-negative free cash flow next year. Thai, Philippine and Indian telcos are likely to have the highest capex/revenue ratios, at around 28%-30%, as they strengthen 4G networks in response to fast-growing data consumption and the rising importance of network quality. In contrast, Chinese telcos capex could decline by 10% as their 4G development cycle has peaked.

We expect industry consolidation in India, Indonesia and Sri Lanka, as weaker telcos exit the market or seek M&A to strengthen their competitive position. The Sri Lankan market looks particularly crowded and ripe for consolidation. Debt-funded M&A could threaten the ratings of acquirers in these markets.

Among the Fitch-rated Asian telcos, Singapore Telecom (A+/Stable), Telekom Malaysia Berhad (A-/Stable), Reliance Communications (BB-/Stable), Global Cloud Xchange (B+/Stable) and PT Tower Bersama Infrastructure Tbk (BB/Stable) have low ratings headroom.

Powered by Capital Market - Live News

Sadbhav Infrastructure Project announces demise of director
Nov 14,2016

Sadbhav Infrastructure Project announced that that Dr. Jagdish P. Joshipura, an Independent Director of the Company, passed away on 12 November 2016.

Powered by Capital Market - Live News

Board of Veer Energy & Infrastructure approves change in CFO
Nov 14,2016

Veer Energy & Infrastructure announced that the Board of Directors of the Company at its meeting held on 12 November 2016 accepted resignation of Kunal Shah from post of CFO with immediate effect and appointed Aakash Shah as CFO with effect from 12 November 2016.

Powered by Capital Market - Live News

Board of Anjali Synthetics approves change in directorate
Nov 14,2016

Anjali Synthetics announced that the Board of Directors of the Company at its meeting held on 12 November 2016 approved appointment of Govindprasad Madanchand Goyal as Independent Director of the Company and accepted the resignation of Ajay C Shah, Independent Director of the Company.

Powered by Capital Market - Live News

Board of Bothra Metals & Alloys to consider HY results
Nov 14,2016

Bothra Metals & Alloys announced that the meeting of Board of Directors of the Company is scheduled to be held on 14 November 2016, inter alia, to consider the following agenda:

- To consider the Standalone Unaudited Financial Results of the company for the half ended on 30 September 2016.

Powered by Capital Market - Live News

Board of Norben Tea & Exports approves change in company secretary
Nov 14,2016

Norben Tea & Exports announced that the Board of Directors at its meeting held on 12 November 2016, has accepted the resignation of Pawan Kothari from the position of Company Secretary of the Company with effect from the conclusion of the business hour on 30 November 2016.

Further, the Board of Directors has appointed Mira Haider as Company Secretary w.e.f. 01 December 2016.

Powered by Capital Market - Live News

Board of Manjeera Constructions approves resignation of CFO
Nov 14,2016

The Board of Manjeera Constructions approved the resignation of R Venkata Rao as Chief Financial Officer of the Company.

Powered by Capital Market - Live News

Ujjivan Financial Services provides update on subsidiary
Nov 14,2016

Ujjivan Financial Services announced that the Reserve Bank of India has issued to the subsidiary of the Company i.e. Ujjivan Small Finance Bank, the Licence No. MUM 122 dated 11 November 2016 to carry on Small Finance Bank business in India subject to the terms and conditions as mentioned in its letter dated 11 November 2016.

Further, Ujjivan Small Finance Bank is in the process of seeking necessary approvals, registrations and licensing from various departments of the Reserve Bank of India and other agencies prior to the commencement of the banking business. On receipt of the mandatory approvals required to start the operations as a Small Finance Bank, Ujjivan Small Finance Bank will commence its operations of a Small Finance Bank.

Powered by Capital Market - Live News