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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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Delta Corp leads gainers in A group
Mar 07,2017

Delta Corp jumped 11.81% to Rs 172.30 at 14:17 IST. The stock topped the gainers in the BSEs A group. On the BSE, 19.87 lakh shares were traded on the counter so far as against the average daily volumes of 10.60 lakh shares in the past two weeks.

Adani Power surged 5.06% to Rs 40.50. The stock was the second biggest gainer in A group. On the BSE, 33.84 lakh shares were traded on the counter so far as against the average daily volumes of 8.19 lakh shares in the past two weeks.

MindTree gained 4.13% at Rs 479.50. The stock was the third biggest gainer in A group. On the BSE, 68,000 shares were traded on the counter so far as against the average daily volumes of 30,000 shares in the past two weeks.

Hexaware Technologies advanced 3.5% at Rs 226.50. The stock was the fourth biggest gainer in A group. On the BSE, 75,000 shares were traded on the counter so far as against the average daily volumes of 1.48 lakh shares in the past two weeks.

Escorts rose 2.81% to Rs 499. The stock was the fifth biggest gainer in A group. On the BSE, 4.99 lakh shares were traded on the counter so far as against the average daily volumes of 5.05 lakh shares in the past two weeks.

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Brooks Lab gains after commencing production at new manufacturing unit
Mar 07,2017

The announcement was made during market hours today, 7 March 2017.

Meanwhile, the BSE Sensex was down 49.77 points, or 0.17%, to 28,998.42.

More than usual volumes were witnessed on the counter. On the BSE, 93,492 shares were traded in the counter so far, compared with an average volume of 23,793 shares in the past one quarter. The stock had hit a high of Rs 149.65 and a low of Rs 138 so far during the day. The stock had hit a record high of Rs 194.40 on 1 November 2016. The stock had hit a 52-week low of Rs 72 on 24 June 2016.

The stock had underperformed the market over the past one month till 6 March 2017, falling 3.71% compared with 2.14% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 3.43% as against Sensexs 10.06% gains.

The small-cap company has an equity capital of Rs 16.19 crore. Face value per share is Rs 10.

Brooks Laboratories net profit fell 82.8% to Rs 0.48 crore on 32.5% decline in net sales to Rs 14.08 crore in Q3 December 2016 over Q3 December 2015.

Brooks Laboratories is a contract manufacturing pharmaceutical company.

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Water Level of 91 major Reservoirs of the Country goes down by three per cent
Mar 07,2017

The water storage available in 91 major reservoirs of the country for the week ending on March 02, 2017 was 64.55 BCM, which is 41% of total storage capacity of these reservoirs. This percentage was at 44 for the week ending February 23, 2017. The level of March 02, 2017 was 132% of the storage of corresponding period of last year and 102% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are 6 reservoirs under CWC monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 5.18 BCM which is 29% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 31% and average storage of last ten years during corresponding period was 36% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 11.93 BCM which is 63% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 46% and average storage of last ten years during corresponding period was 48% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year and is also better than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 14.64 BCM which is 54% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 28% and average storage of last ten years during corresponding period was 50% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 22.64 BCM which is 54% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 38% and average storage of last ten years during corresponding period was 37% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG (Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 10.16 BCM which is 20% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 22% and average storage of last ten years during corresponding period was 36% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Punjab, Rajasthan, Jharkhand, Odisha, West Bengal, Gujarat, Maharashtra, Uttar Pradesh, Uttarakhand, Madhya Pradesh, Chhattisgarh, AP&TG (Two combined projects in both states) and Telangana. States having lesser storage than last year for corresponding period are Himachal Pradesh, Tripura, Andhra Pradesh, Karnataka, Kerala, and Tamil Nadu.

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Volumes jump at Brigade Enterprises counter
Mar 07,2017

Brigade Enterprises clocked volume of 3.03 lakh shares by 13:46 IST on BSE, a 58.94-times surge over two-week average daily volume of 5,000 shares. The stock was up 0.88% at Rs 183.55.

PNC Infratech notched up volume of 11.4 lakh shares, a 35.37-fold surge over two-week average daily volume of 32,000 shares. The stock rose 2.93% at Rs 103.65 after the company was declared the L1 (lowest) bidder for NHAI project of six laning Chitradurga - Davanagere including Chitradurga bypass of NH 48 (Old NH-4) in Karnataka under NHDP V, to be executed on hybrid annuity mode for a bid project cost of Rs 1434 crore. The announcement was made after market hours yesterday, 6 March 2017.

Filatex India saw volume of 7.24 lakh shares, a 35.23-fold surge over two-week average daily volume of 21,000 shares. The stock jumped 18.62% at Rs 96.20.

Vadilal Industries clocked volume of 1.73 lakh shares, a 17.8-fold surge over two-week average daily volume of 10,000 shares. The stock jumped 12.72% at Rs 789.75.

Heidelberg Cement India saw volume of 5.18 lakh shares, a 8.33-fold rise over two-week average daily volume of 62,000 shares. The stock fell 1.44% at Rs 112.95.

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V-Mart Retail opens two stores
Mar 07,2017

V-Mart Retail has opened 2 (two) new stores in the state of Uttar Pradesh & Bihar. Both the stores are fashion stores. With this the tally of Uttar Pradesh is increased to 59 stores and Bihar is increased to 30 stores. This takes the total number of stores to 140 Stores in 120 Cities across 14 states, with 37 Composite Stores & 103 Fashion Stores with a total area of approx. 11.86 lakhs sq. ft.

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South Indian Bank as RBI removes restriction on purchases by foreign investors
Mar 07,2017

Meanwhile, the S&P BSE Sensex was down 77.63 points or 0.27% at 28,970.56

On BSE, so far 14.48 lakh shares were traded in the counter as against average daily volume of 12.35 lakh shares in the past one quarter. The stock hit a high of Rs 20.95 and low of Rs 20.45 so far during the day.

The stock had hit a 52-week high of Rs 23.12 on 7 October 2016. The stock had hit a 52-week low of Rs 15.43 on 29 March 2016. The stock had underperformed the market over the past 30 days till 6 March 2017, rising 0.4% compared with 2.86% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 5.84% as against Sensexs 10.06% gains.

The mid-cap private sector bank has equity capital of Rs 180.28 crore. Face value per share is Re 1.

The Reserve Bank of India yesterday, 6 March 2017, notified that the aggregate foreign share holdings by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/Non Resident Indian (NRI)/Persons of Indian Origin (PIO)/Foreign Direct Investment (FDI)/American Depository Receipts (ADR)/Global Depository Receipts (GDR) under Portfolio Investment Scheme (PIS) in South Indian Bank have gone below the prescribed threshold caution limit stipulated under the extant FDI policy. Hence, the restrictions placed on the purchase of shares of the bank are withdrawn with immediate effect, RBI said.

South Indian Banks net profit rose 9.59% to Rs 111.38 crore on 11.31% rise in total income to Rs 1737.47 crore in Q3 December 2016 over Q3 December 2015.

South Indian Bank is a private sector bank in India headquartered in Thrissur, Kerala.

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Lupin launches generic Paxil CR tablets
Mar 07,2017

Lupin announced the launch of generic Paxil CR (Peroxetin) Extended Release Tablets USP, 12.5 mg, 25 mg and 37.5 mg having received an approval from the United States Food and Drug Administration earlier.

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South Indian Bank vaults as RBI removes restriction on purchases by foreign investors
Mar 07,2017

Meanwhile, the S&P BSE Sensex was down 77.63 points or 0.27% at 28,970.56

On BSE, so far 14.48 lakh shares were traded in the counter as against average daily volume of 12.35 lakh shares in the past one quarter. The stock hit a high of Rs 20.95 and low of Rs 20.45 so far during the day.

The stock had hit a 52-week high of Rs 23.12 on 7 October 2016. The stock had hit a 52-week low of Rs 15.43 on 29 March 2016. The stock had underperformed the market over the past 30 days till 6 March 2017, rising 0.4% compared with 2.86% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 5.84% as against Sensexs 10.06% gains.

The mid-cap private sector bank has equity capital of Rs 180.28 crore. Face value per share is Re 1.

The Reserve Bank of India yesterday, 6 March 2017, notified that the aggregate foreign share holdings by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/Non Resident Indian (NRI)/Persons of Indian Origin (PIO)/Foreign Direct Investment (FDI)/American Depository Receipts (ADR)/Global Depository Receipts (GDR) under Portfolio Investment Scheme (PIS) in South Indian Bank have gone below the prescribed threshold caution limit stipulated under the extant FDI policy. Hence, the restrictions placed on the purchase of shares of the bank are withdrawn with immediate effect, RBI said.

South Indian Banks net profit rose 9.59% to Rs 111.38 crore on 11.31% rise in total income to Rs 1737.47 crore in Q3 December 2016 over Q3 December 2015.

South Indian Bank is a private sector bank in India headquartered in Thrissur, Kerala.

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Export of Oilmeals Up by 18% in April 2016-February 2017
Mar 07,2017

The Solvent Extractors Association of India has compiled the export data for export of oilmeals for the month of February 2017. The export of oilmeals during February 2017 has more than doubled and reported at 263,509 tons compared to 122,527 tons in February 2016 i.e. up by 115%. The overall export of oilmeals during April 2016 to February 2017 is reported at 1,673,036 tons compared to 1,422,993 tons during the same period of last year i.e. up by 18%.

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Dredging Corporation of India appoints director
Mar 07,2017

Dredging Corporation of India has appointed Pravir Krishn as Part-time Official Director on the Board of the Company in place of Barun Mitra.

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Asian Granito India issues commercial paper aggregating Rs 20 crore
Mar 07,2017

Asian Granito India has issued Commercial Paper of an aggregate amount of Rs. 20 crore dated 6 March 2017 having maturity on 1 September 2017. The aggregate Commercial Paper outstanding as on date is Rs. 40.00 crore.

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Avanti Feeds reverses direction after hitting record high
Mar 07,2017

The stock had jumped 24.33% in fifteen sessions to settle at Rs 703.35 yesterday, 6 March 2017, from a close of Rs 565.70 on 10 February 2017.

Meanwhile, the BSE Sensex was down 87.80 points, or 0.3% to 28,960.39.

On the BSE, 4,444 shares were traded in the counter so far as against average daily volume of 8,484 shares in the past two weeks. The stock had hit a high of Rs 713.65 in intraday trade, which was also a record high for the stock. The stock had hit a low of Rs 691.30 so far during the day. The stock had hit a 52-week low of Rs 382.05 on 4 March 2016.

The stock had outperformed the market over the past one month till 6 March 2017, gaining 23.26% compared with 2.14% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 46.32% as against Sensexs 10.06% gains.

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

Avanti Feeds consolidated net profit rose 12.5% to Rs 41.11 crore on 35% rise in net sales to Rs 550.03 crore in Q3 December 2016 over Q3 December 2015.

Avanti Feeds is a leading provider of high quality feed, best technical support to the farmer and caters to the quality standards of global shrimp customers.

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Large imports of items like electronics run counter to Make in India
Mar 07,2017

For success of its flagship programme to boost manufacturing within the country, the governments Make in India should first target high import intensive items like electronic goods, machinery, steel and transport equipment which together add close to USD nine billion or over 27 per cent of the countrys monthly import bill, according to an ASSOCHAM analysis.

n++There are other major import items like crude oil, gold and precious stones which cannot be produced indigenously or are used for re-exports. But a growing economy like India which is witnessing a huge expansion in usage of telecom and other items using electronics , should go about in a focused manner to drastically cut imports of the items which can be substituted by domestic production and add to the countrys manufacturing strength. This is eminently doable, provided the policy initiatives are put in place and implemented with great clarity and speed both by the Centre and the states,n++ the chamber said.

The latest figures show import of close to USD four billion for electronics, .USD 2.36 billion for electrical and non-electrical machinery, USD 1.47 billion for transport equipment and about USD one billion for iron and steel.

Thanks to expanding demand for user industries particularly telecom, automobile, smart consumer devices, the annualized imports of electronics goods grew at a whopping 24.56 per cent in January, 2017.

n++The Make in India should focus on these select items and ensure that their manufacture in India either by the domestic investor or even foreign investor should be quite rewarding. Besides, the tax structure should be such that it should make the domestic manufacture far more competitive than importsn++, said ASSOCHAM Secretary General Mr D S Rawat.

He said too large an import of products which can be manufactured within the country runs contrary to the basic grain of the Make In India initiative.

n++Besides, it is only through manufacturing that large scale employment can be generated. In an environment where fresh investment is hard to come in several key sectors of the economy, electronics is one area where the country does not have adequate capacity and highly import dependent. Thus, investment in the sector from both domestic and global firms should be welcomed and promoted. States like Karnataka have taken some initiative, but much more needs to be done in the sector which is generally pollution free and is required greatly,n++.

Similarly, investment can be made in transport equipment while some leeway should be provided to the steel manufacturers.

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Scan Steels to hold board meeting
Mar 07,2017

Scan Steels will hold a meeting of the Board of Directors of the Company on 14 March 2017, for the allotment of Equity Shares on conversion of warrants issued / allotted by the company on 14.10.2015 as per In-principle approval of BSE.

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Sysco Industries gets revision in credit ratings
Mar 07,2017

Sysco Industries has received revision in credit ratings from Brickwork Ratings India as under -

Fund based limits - BWR BB+; Stable outlook (Reaffirmed)
Non fund based limits - BWR A4+ (Reaffirmed)

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