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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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Board of Page Industries to consider Q3 results and 3rd interim dividend
Jan 13,2017

Page Industries announced that the meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider the following:

1. To take on record the Unaudited Financial Results for the third quarter ended 31 December 2016 (Q3).

2. To consider declaration of 3rd Interim dividend, to the Equity Shareholders of the Company for the current financial year 2016-17.

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Board of ICVL Steels to consider December quarter results
Jan 13,2017

ICVL Steels announced that a meeting of the Board of Directors of the Company is scheduled to be held on 23 January 2017, infer alia, to consider and approve the Un-audited Financial Results of the Company for the Quarter and Nine Months ended 31 December 2016.

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Board of Jubilant FoodWorks appoints CEO
Jan 13,2017

Jubilant FoodWorks announced that the Board of Directors had, in its meeting held on 13 January 2017, inter-alia, approved the appointment of Pratik Pota as

a) Chief Executive Officer designate, who will join the Company by end February 2017.

b) CEO and Whole time Director with effect from 01 April 2017 for a period of five years, subject to approval of shareholders.

c) Key Managerial Personnel with effect from 01 April 2017.

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Insilco to consider Q3 and 9M results
Jan 13,2017

Insilco announced that a meeting of the Audit Committee and Board of Directors of the Company will be held on 07 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter/nine months ended 31 December 2016.

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Multiplus Holdings to consider December quarter results
Jan 13,2017

Multiplus Holdings announced that the Board of Directors meeting will be held on 11 February 2017 to consider and approve quarterly un-audited financial for the quarter ended 31 December 2016 along with limited review report.

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Proaim Enterprises appoints director
Jan 13,2017

Proaim Enterprises announced that the Board of Directors of the Company at its meeting held on 13 January 2017 approved the appointment of Mayuri Rathod as additional director of the Company.

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TCS extends intraday slide after dull Q3 result
Jan 13,2017

The result was announced after market hours yesterday, 12 January 2017. The results are as per International Financial Reporting Standards (IFRS).

Meanwhile, the S&P BSE Sensex was down 70.03 points, or 0.26%, to 27,177.13

On BSE, 3.36 lakh shares were traded in the counter as against average daily volume of 95,222 shares in the past one quarter. The stock had hit a high of Rs 2,368 and a low of Rs 2,243.05 so far during the day.

The stock hit a 52-week high of Rs 2,740 on 12 August 2016. The stock hit a 52-week low of Rs 2,054.70 on 15 November 2016. The stock had outperformed the market over the past 30 days till 12 January 2017, rising 6.13% compared with Sensexs 2.42% rise. The scrip had also underperformed the market in past one quarter, sliding 0.96% as against Sensexs 1.54% fall.

The large-cap IT major has equity capital of Rs 197.04 crore. Face value per share is Re 1.

TCS consolidated revenue in constant currency grew 2% in Q3 December 2016 over Q2 September 2016. Operating income rose 1.5% to Rs 7733 crore in Q3 December 2016 over Q2 September 2016.

During Q3 December 2016, growth was led by Energy and Utilities (up 5.8% sequentially), Hi-Tech (up 2.6% sequentially), BFSI (up 2.1% sequentially), Manufacturing (up 2.1% sequentially) and Retail (up 1.9% sequentially) in constant currency.

Commenting on the Q3 performance, CEO and MD, N Chandrasekaran said that the resilience of the companys business model and strength of operating strategy has been brought to the fore by its performance in Q3, traditionally a quarter of weak demand. TCS strengths in digital, platforms and cloud as well as its deep knowledge of the customers domain are driving its ability to play a strategic role and make a holistic impact on the business.

Chandrasekaran added that to support and sustain the companys digital business that is growing at 30% on an annual basis, it continues to build new capabilities in digital technologies, empower employees to enhance agility in the workplace and invest more to develop IP-based platforms and products. Some of these products and platforms are maturing with greater customer adoption while others continue to be incubated in its innovation labs. As digital adoption increases in 2017, TCS is well prepared to lead this change.

Rajesh Gopinathan, Chief Financial Officer, said that TCS has shown great discipline and control at all levels to deliver another credible quarter. Alongside a good growth performance, the company has been able to keep profitability stable in the desired range and deliver over $1 billion in free cash flow during the quarter. Meanwhile, TCS after market hours yesterday, 12 January 2017 announced that Rajesh Gopinathan has been appointed as Chief Executive Officer (CEO) and Managing Director of the company. Gopinathan takes over from N Chandrasekaran who has been appointed as the Chairman of Tata Sons, effective 21 February 2017.

TCS is an IT services, consulting and business solutions organization. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.

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Board of Gagan Polycot India appoints company secretary and compliance officer
Jan 13,2017

Gagan Polycot India announced that the Board of Directors of the Company at its meeting held on 13 January 2017 has appointed Shabnam Praveen as Company Secretary cum Compliance Officer of the Company with effect from 16 January 2017.

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Board of Deep Industries to consider December quarter results
Jan 13,2017

Deep Industries announced that the meeting of the Board of Directors of the Company is scheduled to be held on 23 January 2017, inter alia, to consider the following agenda:

- To consider the Unaudited Financial Results of the Company for the Quarter ended on 31 December 2016.

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Spicejet flies high after inking mega jet purchase deal with Boeing
Jan 13,2017

The announcement was made during market hours today, 13 January 2017.

Meanwhile, the BSE Sensex was down 78.15 points, or 0.29%, to 27,169.01.

On the BSE, 50.35 lakh shares were traded in the counter so far, compared with an average volume of 43.34 lakh shares in the past one quarter. The stock had hit a high of Rs 66.55 and a low of Rs 64.55 so far during the day. The stock had hit a 52-week high of Rs 95.30 on 28 January 2016. The stock had hit a 52-week low of Rs 54.50 on 9 November 2016.

The stock had outperformed the market over the past 30 days till 12 January 2017, rising 7.3% compared with 2.76% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.84% as against Sensexs 2.97% decline.

The mid-cap low-cost airliner has an equity capital of Rs 599.45 crore. Face value per share is Rs 10.

SpiceJet and Boeing announced a deal for the purchase of up to 205 airplanes today, 13 January 2017. SpiceJet enhanced its existing order of 55 aircraft with additional 100 firm B737-8 MAX and 50 purchase rights for B737-8 MAX and wide-body aircraft. With this, the total order of 205 aircraft is valued at $22 billion or Rs 150000 crore at list prices.

This order is the biggest in SpiceJets history, ending the era of turnaround and marking the beginning of a growth story for the next decade, it said. This fleet acquisition provides SpiceJet the ability to capitalise on the robust demand forecast in the worlds fastest growing aviation market.

SpiceJet placed its first order with Boeing in 2005 for next-generation B737s and currently operates 32 next-generation B737s in its fleet and 17 Bombardier Q400s.

The new airplane will deliver 20% lower fuel use than the first next-generation B737s and the lowest operating costs in its class of 8% per seat less than its nearest competitor.

SpiceJets net profit jumped 103.1% to Rs 58.92 crore on 33.9% rise in net sales to Rs 1378.47 crore in Q2 September 2016 over Q2 September 2015.

SpiceJet is a low-cost airliner.

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Den Networks leads gainers in A group
Jan 13,2017

Den Networks jumped 7.52% to Rs 77.95 at 13:49 IST. The stock topped the gainers in the BSEs A group. On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 41,000 shares in the past two weeks.

SREI Infrastructure Finance surged 6.41% to Rs 87.20. The stock was the second biggest gainer in A group. On the BSE, 3.43 lakh shares were traded on the counter so far as against the average daily volumes of 1.74 lakh shares in the past two weeks.

Trent gained 6.18% at Rs 208.70. The stock was the third biggest gainer in A group. On the BSE, 1.66 lakh shares were traded on the counter so far as against the average daily volumes of 17,000 shares in the past two weeks.

Kaveri Seed Company advanced 5.34% at Rs 456.35. The stock was the fourth biggest gainer in A group. On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 34,000 shares in the past two weeks.

Axis Bank rose 3.78% to Rs 472.40. The stock was the fifth biggest gainer in A group. On the BSE, 7.66 lakh shares were traded on the counter so far as against the average daily volumes of 3.78 lakh shares in the past two weeks.

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Goa Carbon tanks after net loss widens in Q3
Jan 13,2017

The result was announced during market hours today, 13 January 2017.

Meanwhile, the S&P BSE Sensex was down 13.31 points or 0.06% at 27,231.38.

Huge volumes were witnessed on the counter. On the BSE, 2.1 lakh shares were traded on the counter so far as against the average daily volumes of 39,347 shares in the past one quarter. The stock had hit a high of Rs 129.50 and a low of Rs 112 so far during the day. The stock had hit a 52-week high of Rs 141 on 6 October 2016 and a 52-week low of Rs 62.10 on 17 February 2016.

The stock had outperformed the market over the past one month till 12 January 2017, rising 24.83% compared with 2.76% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, dropping 3.41% as against Sensexs 2.97% decline.

The small-cap company has equity capital of Rs 9.15 crore. Face value per share is Rs 10.

Goa Carbons net total income from operations dropped 19.87% to Rs 71.95 crore in Q3 December 2016 over Q3 December 2015.

Goa Carbon said that companys board of directors approved the payment of interim dividend of Rs 1.50 per share for the year ending 31 March 2017 (FY 2017).

Goa Carbon is engaged in the business of manufacture and marketing of calcined petroleum coke.

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Government mounted SECC with the purpose of ranking households for receiving benefits under government programmes
Jan 13,2017

The Government mounted the Socio Economic and Caste Census (SECC) with the purpose of ranking households for receiving benefits under government programmes. The Socio Economic and Caste Census has been concluded. The Ministry of Rural Development has decided to use SECC data for identification of beneficiaries and for generating priority list of beneficiaries under its programmes.

An Expert Group under the Chairmanship of former Finance Secretary Shri Sumit Bose was constituted to study the objective criteria for allocation of resources to States and identification and prioritization of beneficiaries under various programme using Socio Economic and Caste Census (SECC) data.

The Expert Group during its interim discussion with MoRD had given a road map on selection of beneficiaries as well as criteria for allocation of resources to the states for Pradhan Mantri Awaas Yojana- Gramin (PMAY-G).

The Expert Groups interim advice has been accepted by the Ministry and accordingly appropriate guidelines have been issued to make inter -state allocation based on SECC data to cover households under Pradhan Mantri Awaas Yojana (PMAG) and Deendayal Antyodaya Yojana - National Rural Livelihood Mission (DAY-NRLM).

The Expert Group has concluded that the use of SECC data and its TIN Number would enable the government to improve the efficacy of its interventions and will result in improved outcome. However, the Expert Group has observed that regular updation and verification of SECC data is prerequisite to eliminate the need to mount standalone SECC in the long run, which would put additional burden on public resources. The SECC has the potential to move from being only a census-like socio-economic database to becoming the core of a functioning Social Registry Information System (SRIS). SRIS would result in several advantages in implementation of social sector schemes. It has the potential to streamline programme administration, reduce duplication of benefit and fraud, saving on time and costs for both programme applicants and services providers, monitoring the living standards of beneficiaries over time, better targeting of vulnerable and marginalized sections of the society and enable expansion of the coverage of the programmes. Finally, the use of SECC data would lead to better budgetary planning and allocation of resources for various programmes.

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Infosys drops after narrowing FY 2017 dollar revenue guidance
Jan 13,2017

Meanwhile, the S&P BSE Sensex was down 27.40 points or 0.1% at 27,219.76

On BSE, 4.23 lakh shares were traded in the counter as against average daily volume of 2.29 lakh shares in the past one quarter. The stock had hit a high of Rs 1,045 and a low of Rs 964 so far during the day.

The stock had hit a record high of Rs 1,278 on 3 June 2016. The stock hit a 52-week low of Rs 900.30 on 9 November 2016. The stock had underperformed the market over the past 30 days till 12 January 2017, falling 2.66% compared with Sensexs 2.42% rise. The scrip had also underperformed the market in past one quarter, sliding 6.73% as against Sensexs 1.54% fall.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys now 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 the current financial year ending 31 March 2017 (FY 2017).

The software firm has reduced its FY 2017 growth guidance in dollar terms for the third straight time in the current financial year. The company had at the beginning of FY 2017 estimated its dollar revenue to grow between 11.8 and 13.8%.

In constant currency terms, Infosys now 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.

Infosys consolidated net profit rose 2.8% to Rs 3708 crore on 0.2% fall in revenue to Rs 17273 crore in Q3 December 2016 over Q2 September 2016. The results are as per International Financial Reporting Standards (IFRS). The result was announced before market hours today, 13 January 2017.

Infosys consolidated net profit rose 1.5% to $547 million on 1.4% fall in revenue to $2551 million in Q3 December 2016 over Q2 September 2016. The results are as per International Financial Reporting Standards (IFRS).

Infosys said that the company has added 77 clients in Q3 December 2016, including two clients in the $75 million-plus revenue category. Liquid assets including cash and cash equivalents and investments were Rs 35697 crore as on 31 December 2016 as compared to Rs 35640 crore as on 30 September 2016 and Rs 31526 crore as on 31 December 2015.

Vishal Sikka, CEO and MD said that taking into account seasonal and other additional headwinds for the quarter, the companys Q3 revenue performance was broadly in line with its expectations. The company continues to focus sharply on the execution of strategy, as reflected in the growing embrace of AI-based automation, growth in our new software-led business, delivering innovation, both incremental & breakthrough and fostering a learning-led culture.

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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Volumes jump at CESC counter
Jan 13,2017

CESC reported volume of 3 lakh shares by 12:50 IST on BSE, a 13.48-times surge over two-week average daily volume of 22,000 shares. The stock rose 1.26% to Rs 673.30.

Dr Reddys Laboratories notched up volume of 2.3 lakh shares, a 12.14-fold surge over two-week average daily volume of 19,000 shares. The stock declined 0.74% to Rs 2,988.95.

Trident saw volume of 16.64 lakh shares, a 4.58-fold surge over two-week average daily volume of 3.61 lakh shares. The stock jumped 7.48% to Rs 64.70.

Kaveri Seed Company clocked volume of 1.36 lakh shares, a 3.9-fold surge over two-week average daily volume of 34,000 shares. The stock jumped 5.04% to Rs 455.05.

United Spirits saw volume of 33,000 shares, a 3.74-fold rise over two-week average daily volume of 8,778 shares. The stock rose 0.01% to Rs 1,911.

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