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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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GOCL Corporation gallops on combining with Quaker Chemical
Apr 05,2017

The announcement was made during trading hours today, 5 April 2017.

Meanwhile, the S&P BSE Sensex was up 64.02 points, or 0.21%, to 29,974.24. The S&P BSE Small-Cap index was up 164.45 points, or 1.12% to 14,784.68.

On BSE, so far 14,000 shares were traded in the counter, compared with an average volume of 5,478 shares in the past one quarter. The stock hit a high of Rs 423.50 in intraday trade so far, which is a record high for the counter. The stock hit a low of Rs 380 so far during the day. The stock hit a 52-week low of Rs 135 on 1 April 2016.

The stock had outperformed the market over the past 30 days till 3 April 2017, rising 6.05% compared with Sensexs 3.74% rise. The scrip also outperformed the market in past one quarter, gaining 38.3% as against Sensexs 12.26% gain.

The small-cap company has an equity capital of Rs 9.91 crore. Face value per share is Rs 2.

GOCL Corporation said that the company was informed that Houghton International, a subsidiary of the Hinduja Groups Gulf Oil International has entered into a definitive agreement to combine with Quaker Chemical to create a global leader in the space of process fluids, chemical specialties, and technical expertise to the global primary metals and metal working industries. The Hinduja conglomerate will be the largest shareholder in the combined public company. GOCL Corporation, an Indian listed entity of the Hinduja Group which owns 10% equity in Houghton International, through its UK based subsidiary, HGHL Holdings, UK (HGHL) will be entitled to approximately 2% in the combined entity.

On a consolidated basis, GOCL Corporations net profit declined 15.97% to Rs 5.05 crore on 6.32% rise in net sales to Rs 133.48 crore in Q3 December 2016 over Q3 December 2015.

GOCL Corporation, formerly Gulf Oil Corporation, is engaged in the business of energetics, mining and infrastructure services and realty.

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Globus Spirits gets reaffirmation of rating for bank facilities
Apr 05,2017

Globus Spirits has received reaffirmation in ratings for the companys bank facilities from CARE as under -

Long term bank facilities (Rs 284.40 crore) - CARE A; Negative
Short term bank facilities (Rs 10 crore) - CARE A; Negative / A1

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Uttam Sugar Mills gets revision in ratings for bank facilities
Apr 05,2017

Uttam Sugar Mills announced that CARE Ratings has revised the ratings for the Companys bank facilities as under -

Long term bank facilities - CARE C (Revised from CARE B; Stable)
Short term bank facilities - CARE A4 (Reaffirmed)

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MTNL rings loud on plans to monetise assets
Apr 05,2017

Meanwhile, the S&P BSE Sensex was up 47.95 points, or 0.16% to 29,958.17. The S&P BSE Small-Cap index was up 167.46 points, or 1.15% to 14,787.69.

On the BSE, 27.98 lakh shares were traded in the counter so far, compared with average daily volumes of 8.59 lakh shares in the past one quarter. The stock hit a high of Rs 27.15 in intraday trade so far, which is 52-week high for the counter. The stock had hit low of Rs 24.55 so far during the day. The stock hit a 52-week low of Rs 15 on 22 November 2016.

The stock had outperformed the market over the past 30 days till 3 April 2017, rising 7.47% compared with Sensexs 3.74% rise. The scrip also outperformed the market in past one quarter, gaining 22.86% as against Sensexs 12.26% gain.

The small-cap company has equity capital of Rs 630 crore. Face value per share is Rs 10.

Media reports indicated that Mahanagar Telephone Nigam (MTNL) is looking to sell its surplus land, buildings to pare debt. In clarification to media reports, MTNL during market hours today, 5 April 2017 said that the companys management is considering prposal for asset monetisation i.e., lease / sale of real estate/ buildings, lease/ sale of towers, duct etc. The proceeds of asset monetisation can be utilised for debt reduction, MTNL said.

MTNL reported net loss of Rs 819.96 crore in Q3 December 2016 compared with net loss of Rs 671.59 crore in Q3 December 2015. Net sales fell 8.7% to Rs 686.76 crore in Q3 December 2016 over Q3 December 2015.

State-run MTNL provides telecommunication services. The Government of India currently holds 56.25% stake in MTNL (as per the shareholding pattern as on 31 December 2016).

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BHEL provides performance update for 12th Plan
Apr 05,2017

Bharat Heavy Electrical has achieved a capacity addition of 45,274 MW of utility sets during the 12th five year plan, surpassing the Governments capacity addition target by 9%. BHELs capacity addition during the 12th five year plan is 78% higher than that in the 11th plan.

The Company continues to remain the single largest contributor to the countrys installed capacity of utility sets, with a share of 46% in the 12th plan capacity addition.

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Tata Power Renewable Energy commissions 100 MW wind power project
Apr 05,2017

Tata Power Company announced that its subsidiary, Tata Power Renewable Energy, has commissioned 100 MW wind farm project in Nimbagallu, Andhra Pradesh. The Company has commissioned 36 MW wind capacity of the plant in December 2016, and announced the commissioning of the balance 64 MW on 05 April 2017. With this, the operating renewable portfolio of TPREL grows to 1959 MW, comprising 907 MW wind, 932 MW solar and 120 MW waste heat recovery capacity as of 05 April 2017.

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ICICI Bank allots 615,865 equity shares
Apr 05,2017

ICICI Bank has allotted 615,865 equity shares under ESOS on 03 April 2017.

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Sree Sakthi Paper Mills announces cessation of nominee director
Apr 05,2017

Sree Sakthi Paper Mills announced that KSIDC has withdrawn the nomination of K Aravindakshan as a Nominee Director from the Board of the Company w.e.f.18 March 2017

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Shiv Kamal Impex announces change in directorate
Apr 05,2017

Shiv Kamal Impex announced that Anu Jain (DIN: 03515530), Managing Director and Company Secretary of the Company has expressed her unwillingness to continue as Managing Director and Company Secretary w.e.f. 01 June 2017 due to her busy schedule and other personal commitments. She has, however, requested the Board members to continue her association with the Company as a Non- Executive Director.

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Titaanium Ten Enterprise provides performance update for FY 2017
Apr 05,2017

Titaanium Ten Enterprise announced that compared to the last financial years turnover; the companys turnover has increased by approximately 20% during the FY 2016-17. Recently the company has installed two new Single Jersey Machines. The company plans to increase the production during the FY 2017-18 and for that the company is planning to install new machines namely Double Jersey Machine, Raschel Jacquard Machine, Tricot Warp Knitting Machine and Warping Machine.

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Creative Merchants director resigns
Apr 05,2017

Creative Merchants announced that Pankaj Jadav, Director of the Company has resigned from the Board of Company w. e. f. 05 April 2017.

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MGNREGS - Governance transformation and water conservation thrust areas in 2016-17
Apr 05,2017

The financial year 2016-17 witnessed an unprecedented governance transformation in MGNREGS with a sustained thrust on water conservation. With over 82% active workers (9.1 crore) with Aadhaar seeding in NREGA Soft, 4.6 crore workers on Aadhaar Based Payment Bridge, electronic payment of 96% wages through Bank/Post Office accounts, more than 89 lakh assets geo tagged so far, 93 lakh job cards deleted so far through proper verification, large scale drought proofing water conservation works in rainfall deficient regions, MGNREGS established itself as a well governed programme creating durable assets for livelihood security in poor regions, while providing employment on demand.

For the first time, deprivation levels of States were taken into account while approving Labour Budget. The April to July period in the financial year2016-17 witnessed an unprecedented demand for work on account of the continued drought. Thereafter, on account of a good monsoon in over 75% districts, the demand remained concentrated in drought affected regions like Karnataka. December onwards, as happens every year, demand for work again rose. MGNREGS achieved 230 crore person days which is higher than the revised labour budget. The total provisional expenditure of Rs. 58,056Crore (Central plus State) is the highest ever in MGNREGS in any year. 56% women in the wage employment generated is also the highest ever.

The pace for water conservation was set by the Prime Ministers meetings on water conservation with the Chief Ministers of the drought affected States. States undertook their region specific unique water conservation initiatives using MGNREGS resources. MukhyaMantri Jal Swalamban Yojana to drought proof 3200 villages with 92000 water conservation structures in Rajasthan, Dobhas or farm ponds in clusters in every revenue villages of Jharkhand, NeeruChettu in Andhra Pradesh with thrust on farm ponds, Mission Kakatiya in Telengana, Kapildhara dug wells in Madhya Pradesh, Jal YuktaShivar and other water conservation measures in Maharashtra, all used MGNREGS as a resource for drought proofing for livelihood security. 15.47 lakh water related works were completed in FY 2016-17 including 5.66 lakh farm ponds. Nearly 90 lakh hectares of irrigation potential has been created through MGNREGS in FY 2015-16 and FY 2016-17, as revealed by the new practice of preparing Annual Performance Outcome Report of MGNREGS. An independent, multi- institution, multi disciplinary evaluation of all the water conservation works taken up in FY 2015-17 period under MGNREGS is being undertaken to ascertain the impact. The Report will be ready by 30 September 2017.

MGNREGS promoted large scale individual beneficiary schemes (over 14.61 lakh beneficiaries) for livelihood security like construction of poultry, goat breeding and dairy sheds; farm ponds and dug wells; support for housing and individual household latrines (IHHLs) in FY 2016-17. It also undertook innovative convergence initiatives for solid waste management in 11000 villages of Tamil Nadu and constructed over 4 lakh magic pits for liquid waste management inTelengana, Andhra Pradesh, Maharashtra, and many other States. To move unskilled MGNREGS workers up the skilling ladder, 29704 were trained for self-employment at Rural Self Employment Training Centres, 3812 were trained to become Barefoot Technicians, besides placement based wage employment to over 3000 workers under DDUGKY and training of Rural Masons under PMAY (Gramin).

In FY 2016-17 there was considerable emphasis on completion of incomplete works. More than 56 lakh works have been completed during the year which is the highest since the inception of the programme. Nearly 68% of the expenditure was on agriculture and allied activities and 62% of the expenditure was on Natural Resource Management works (NRM). In collaboration with the Ministry of Water Resources, the Ministry of Agriculture and Farmers Welfare and Department of Land Resources, Mission Water Conservation guidelines were issued. 22 States held State level workshop on Mission Water Conservation with representatives from all relevant departments including Central Water Ground Board (CGWB) and State Remote Sensing Centre. States have been advised to ensure that not less than 65% of the expenditure in 2264 identified water stressed blocks will be pertaining to water conservation and water management in FY 2017-18.

Reduction in the delay in payment of wages will be a major thrust area for the Ministry in FY 2017-18. While States like Andhra Pradesh, Telangana, Rajasthan, Jharkhand and Kerala are ensuring timely payment in 75% or more number of transactions, other States are lagging behind. The Ministry will be focusing on handholding other States and monitoring this item of work very closely so as to ensure timely payments of wages. Besides, social audits based on notified auditing standards, with the help of women SHG members as village resource persons will be another key area of work in the FY 2017-18.The Department shall release funds to States in early April to enable full scale water conservation works during the period of need.

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IL&FS Transportation nudges higher after raising funds
Apr 05,2017

The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

Meanwhile, the S&P BSE Sensex was up 61.40 points, or 0.21%, to 29,971.62. The S&P BSE Mid-Cap index was up 71.72 points, or 0.51%, to 14,261.41.

On the BSE, 1.16 lakh shares were traded in the counter so far, compared with average daily volume of 1.35 lakh shares in the past one quarter. The stock had hit a high of Rs 113.90 and a low of Rs 111.60 so far during the day.

The stock had hit a 52-week high of Rs 124.80 on 12 January 2017. The stock had hit a 52-week low of Rs 65.85 on 19 August 2016. The stock had outperformed the market over the past one month till 3 April 2017, gaining 11.29% compared with the Sensexs 3.74% rise. The scrip had, however, underperformed the market over the past one quarter, rising 0.04% as against the Sensexs 12.26% rise.

The mid-cap company has equity capital of Rs 328.96 crore. Face value per share is Rs 10.

IL&FS Transportation Networks said that the committee of directors approved on 31 March 2017, the allotment of 7,500 rated, listed, redeemable, non-convertible debentures of the face value of Rs 10 lakh each aggregating to Rs 750 crore on a private placement basis.

Separately, IL&FS Transportation on the same day announced the commencement of commercial operation of Metro Link from Sikenderpur to Sector 56 in Gurgaon, Haryana.

Rapid MetroRail Gurgaon Extension project awarded by The Haryana Urban Development Authority to a consortium of IL&FS Transportation Networks and its subsidiary IL&FS Rail for developing the 6.5 kilometers rail Metro Link Extension from Sikenderpur to Sector 56 in Gurgaon, Haryana on a design, build, finance, operate and transfer basis commenced commercial operation from 31 March 2017.

The project has a concession period of 98 years and allows the concessionaire to collect and appropriate fare and non fare revenue from the project during concession period.

IL&FS Transportation Networks reported net profit of Rs 55.66 crore in Q3 December 2016 as against net loss of Rs 19.42 crore in Q3 December 2015. Net sales dropped 23.8% to Rs 763 crore in Q3 December 2016 over Q3 December 2015.

IL&FS Transportation Networks has grown into the largest BOT (build, operate and transfer) road assets owner in India.

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Bank of Baroda moves up after keeping MCLRs unchanged
Apr 05,2017

The announcement was made during market hours today, 5 April 2017.

Meanwhile, the S&P Sensex was up 40.21 points or 0.13% at 29,950.43.

On the BSE, 3.87 lakh shares were traded on the counter so far as against the average daily volumes of 16.23 lakh shares in the past one quarter. The stock had hit a high of Rs 176.40 and a low of Rs 172.20 so far during the day. The stock had hit a 52-week high of Rs 191.65 on 6 February 2017 and a 52-week low of Rs 128.40 on 24 May 2016.

The stock had outperformed the market over the past one month till 3 April 2017, gaining 7.81% compared with the Sensexs 3.74% rise. The scrip had also outperformed the market over the past one quarter, gaining 15.82% as against the Sensexs 12.26% rise.

The large-cap bank has equity capital of Rs 460.83 crore. Face value per share is Rs 2.

Bank of Barodas Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.1%, the rate for one month will be 8.15% and for three months it will be 8.2%. The MCLR on 6-month loans will be 8.3% and for one-year loans the rate will be 8.35%, the bank said. MCLR on three-year loans will be 8.5% and for five-year loans the rate will be 8.65%.

Bank of Baroda reported net profit of Rs 252.67 crore in Q3 December 2016, as compared with net loss of Rs 3342.04 crore in Q3 December 2015. Total income rose 3.9% to Rs 12181.04 crore in Q3 December 2016 over Q3 December 2015.

Government of India holds 59.24% stake in Bank of Baroda as on 31 December 2016 as per the shareholding pattern.

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Premier Explosives gains after allotment of land by APIIC
Apr 05,2017

The announcement was made yesterday, 4 April 2017. The stock market was closed on that day due to holiday.

Meanwhile, the S&P Sensex was up 47.71 points, or 0.16% at 29,957.93. The S&P BSE Small-cap index was up 160.97 points, or 1.1% at 14,781.20.

On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 4,598 shares in the past one quarter. The stock had hit a high of Rs 380 and a low of Rs 372 so far during the day.

The stock had hit a 52-week high of Rs 417.90 on 21 April 2016 and a 52-week low of Rs 304.50 on 23 November 2016. The stock had outperformed the market over the past one month till 3 April 2017, advancing 6.58% compared with the Sensexs 3.74% rise. The scrip had, however, underperformed the market over the past one quarter advancing 3.16% as against the Sensexs 12.26% rise.

The small-cap company has equity capital of Rs 8.86 crore. Face value per share is Rs 10.

Premier Explosives said that in response to its application, Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has sent it a letter stating that APIIC is provisionally willing to offer 202 acres of land in Chittoor, Andhra Pradesh for establishing a unit to manufacture solid propellant.

The company has accepted the letter and will take necessary steps required for firm allotment of land and setting up the said unit.

Premier Explosives net profit rose 24.3% to Rs 2.30 crore on 15.4% increase in net sales to Rs 55.45 crore in Q3 December 2016 over Q3 December 2015.

Premier Explosives is one of the major companies in India manufacturing the entire range of commercial explosives and accessories for the civil requirement.

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