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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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FPIs extend selling
Apr 12,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 725.38 crore into the secondary equity markets on 11 April 2017, compared with net outflow of Rs 642.25 crore on 10 April 2017. On that day, the Sensex rose 212.61 points or 0.72% to settle at 29,788.35, its highest closing level since 6 April 2017.

The net outflow of Rs 725.38 crore on 11 April 2017 was a result of gross purchases of Rs 4645.72 crore and gross sales of Rs 5371.10 crore.

There was a net inflow of Rs 0.60 crore into the category primary market & others on 11 April 2017, which was a result of gross purchases of Rs 3.46 crore and gross sales of Rs 2.86 crore.

FPIs had sold stocks worth a net Rs 514.18 crore in April 2017 (till 11 April 2017). FPIs had bought stocks worth a net Rs 29480.37 crore in March 2017.

FPIs have purchased shares worth a net Rs 35973.29 crore from the secondary equity markets in calendar year 2017 (till 11 April 2017). They had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There was a net inflow of Rs 4007.33 crore from FPIs into the category primary market & others in April 2017 so far (till 11 April 2017). FPIs had bought stocks worth a net Rs 1425.63 crore from the category primary market & others in March 2017.

FPIs have purchased shares worth a net Rs 7151.44 crore from the category primary markets & others in calendar year 2017 so far (till 11 April 2017). The net inflow from FPIs in the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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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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EID Parry (India) spurts after large bulk deal
Apr 12,2017

Meanwhile, the S&P BSE Sensex was down 67.96 points or 0.23% at 29,720.39. The S&P BSE Mid-Cap index was down 40.56 points or 0.28% at 14,338.16

Bulk deal boosted volume on the scrip. On BSE, so far 53.84 lakh shares were traded in the counter as against average daily volume of 74,347 shares in the past one quarter. The stock hit a high of Rs 296.30 and a low of Rs 270 so far during the day. The stock had hit a record high of Rs 309.70 on 7 February 2017. The stock had hit a 52-week low of Rs 212 on 11 April 2016.

The stock had underperformed the market over the past one month till 11 April 2017, falling 0.73% compared with 2.91% rise in the Sensex. The scrip also underperformed the market in past one quarter, declining 1.72% as against Sensexs 9.76% rise.

The mid-cap company has equity capital of Rs 17.59 crore. Face value per share is Re 1.

On a consolidated basis, net profit of EID Parry (India) rose 2082.95% to Rs 131.85 crore on 10.9% fall in total income to Rs 3450.15 crore in Q3 December 2016 over Q3 December 2015.

EID Parry (India) is engaged in the manufacture and marketing of a wide-range of products such as sugar, bio-products and nutraceuticals.

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Airtel launches Internet TV for Digital Homes
Apr 12,2017

Bharti Airtel announced that its digital arm, Airtel Digital TV has launchedInternet TV - Indias first hybrid STB, powered by Android TV, which brings the best of online content to the TV screen along with a bouquet of over 500 plus satellite TV channels. This marks yet another industry first from Airtel that has been at the forefront of innovation in the DTH category.

Airtel Internet TV transforms any TV into a Smart TV and enables users to switch seamlessly between online and linear TV content with a single device. With consumption of online content within Indian Homesincreasing rapidly, Airtel Internet TV will offer customers a superior experience by enabling them to enjoy their favourite content on the biggest screen in their Homes. Customers can now stream and cast theirfavourite content directly on to their TV as well download their favourite apps and play games. All of this along with the best satellite TV experience with 500 plus satellite TV channels offers the complete Homeentertainment experience.

Airtel Internet TV comes preloaded with Netflix, YouTube, Google Play Music, Google Play Games, Airtel Movies and more. It also comes with access to Google Play Store that allows users to download their favourite apps, content and games on to their TV.

Airtel Internet TV comes with inbuilt-Wi-Fi receiver, Bluetooth based remote control and is integrated with Google voice search feature. Customers can discover their favourite content by simply telling theremote and choose from a variety of content sources.

Airtel Internet TV is priced at Rs. 4999/- with 3 month Digital TV subscription. Also, as limited period offer customers can pay Rs. 7999/- and get the Airtel Internet TV with one year subscription. AirtelInternet TV will be available exclusively on Amazon India starting April 12, 2017. It will be available via Airtel Digital TV touch points - retail stores/website/contact centers soon after online launch.

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