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Bayer to acquire Monsanto in all cash transaction

Bayer to acquire Monsanto in all cash transaction

Sep 14,2016

Monsanto India announced that Bayer and Monsanto signed definitive agreement under which Bayer will acquire Monsanto for USD 128 per share in an all cash transaction.

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Jindal Steel hardens after posting record steel sales in FY 2017
Apr 06,2017

The announcement was made after market hours yesterday, 5 April 2017.

Meanwhile, the S&P BSE Sensex was down 111.71 points or 0.37% at 29,866.31.

On the BSE, 13.12 lakh shares were traded on the counter so far as against the average daily volumes of 23.27 lakh shares in the past one quarter. The stock had hit a high of Rs 131 and a low of Rs 124.55 so far during the day. It had hit a 52-week high of Rs 131.80 on 17 March 2017 and a 52-week low of Rs 57.80 on 24 May 2016.

It had underperformed the market over the past one month till 5 April 2017, falling 1.51% compared with the Sensexs 3.96% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 64.96% as against the Sensexs 11.52% rise.

The large-cap company has equity capital of Rs 91.50 crore. Face value per share is Rs 1.

Jindal Steel and Power (JSPL) has grown impressively despite the challenging times faced by the global steel Industry for a larger part of the financial year ended 31 March 2017 (FY 2017). JSPL clocked production and sales of over 4.8 million tonnes in FY 2017.

JSPLs consolidated steel production rose 12.3% at 1.3 million tonnes in Q4 March 2017 over Q3 December 2016. JSPLs consolidated steel sales rose 11.2% at 1.34 million tonnes in Q4 March 2017 over Q3 December 2016.

Jindal Shadeed Oman clocked highest ever production and sales, by recording an over 20% rise in production to over 1.33 million tonnes and over 17% rise in sales of over 1.31 million tonnes in FY 2017.

On a consolidated basis, JSPL reported net loss of Rs 407.44 crore in Q3 December 2016 as against net loss of Rs 573.48 crore in Q3 December 2015. Net sales rose 28.1% to Rs 5296.80 crore in Q3 December 2016 over Q3 December 2015.

JSPL is one of the Indias leading integrated steel manufacturers, having significant presence in steel, power generation and infrastructure segments and catering to a large part of Indias domestic energy and infrastructure requirement.

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PFC Consulting transfers Kohima-Mariani Transmission to Kalpataru Power Transmission
Apr 06,2017

PFC Consulting (a wholly owned subsidiary of Power Finance Corporation) has transferred Kohima-Mariani Transmission, its wholly owned subsidiary Company established for development of Independent Transmission Project North Eastern Region Strengthening Schenme (NERSS-VI) to Kalpataru Power Transmission on 31 March 2017.

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Brahmaputra Infrastructure receives LoA worth Rs 44.80 crore from Govt. of Assam
Apr 06,2017

Brahmaputra Infrastructure has received a letter of award of work for execution of the construction of residential complex at Rehabari, Guwahati for the contract price of Rs 44.80 crore from the Govt. of Assam.

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Cabinet approves Collaboration Agreement to support the Belmont Forum Secretariat
Apr 06,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for signing of the Collaborative Agreement with French National Research Agency (ANR), France for supporting the Belmont Forum Secretariat from January, 2015 to December, 2017 at a total estimated expenditure of Euro 40,000. The Cabinet also approved continued financial support to Belmont Forum Secretariat beyond 2017.

The Belmont Forum, created in 2009, is a high level group of the worlds major and emerging funders of global environmental change research and international science councils. It provides an opportunity to identify study and deliver international environmental research priorities, for the society, in an accelerated way through transn++national research collaboration between natural and social scientists and alignment of international resources.

India is a member of Belmont Forum, besides Australia, Brazil, Canada, European Commission, France, Germany, Japan, Netherland, South Africa, UK and USA etc. Ministry of Earth Science (MoES), represents India in the Belmont Forum since 2012.

In order to coordinate the activities of the Belmont, a Secretariat is hosted by one of the Belmont forum member on rotational basis. ANR, France is hosting the Secretariat from January, 2015 to December, 2017. Expenditure for hosting the Secretariat will be borne by Belmont Forum member countries in kind or cash contribution.

Impact:

The Agreement will help to maintain a certain degree of continuity in the operations of the Forum and also help in smooth coordination of the activities of Belmont Forum. As India is already participating in 4 Collaborative Research Actions (CRAs) and Secretariat will be coordinating the activities of Belmont Forum, Indian scientific community will ultimately benefit from this agreement.

Background:

Since the inception of Belmont Forum in 2009, its operations were being handled by a part-time secretariat associated with the respective Chairs of the Belmont Forum. As the Co-chairs are rotational, the Secretariat also rotates and some time co-chairs are from different Continents with different time zone. In order to maintain a certain degree of continuity in the operations of the Forum, establishment of a Full-time Secretariat was agreed upon by Belmont Forum members, on rotational basis. ANR, France has agreed to host the Secretariat from January, 2015 to December, 2017.

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Grasim Industries allots 25,080 equity shares
Apr 06,2017

Grasim Industries has allotted 25,080 equity shares of Rs 2 each of the Company under ESOSs. Consequent to the above allotment, the equity share capital of the Company stands increased to 46,68,62,190 equity shares of Rs 2 each aggregating to Rs 93.37 crore.

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CSL Finance gets reaffirmation of ratings for enhanced bank facilities
Apr 06,2017

CSL Finance announced that CARE Ratings has reviewed the enhanced bank facilities of the Company and have reaffirmed their ratings of CARE BBB; Stable.

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Cabinet apprised of the MoU with Ferrovie Dello Stato Italiane S.P.A. of Italy on Technical Cooperation in the Rail Sector
Apr 06,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has been apprised of the Memorandum of Understanding (MoU) signed with Ferrovie Dello Stato Italiane S.P.A. of the Republic of Italy on 31st January, 2017 on technical cooperation in railway sector.

The MoU will provide a platform to Indian Railways to interact and share the latest developments and knowledge in the railway sector to promote safety, efficiency and sustainability. The MoU will also facilitate exchange of information, experts meetings, seminars, technical visits and implementation of jointly agreed cooperation, projects.

The objective of this MoU is to develop technical cooperation activities in the railway sector to promote safety, efficiency and sustainability, to their mutual benefit. It will enable technical cooperation in the following areas:-

a. Safety audit of Indian Railways and measures required for enhancing safety in train operation;

b. Assessment and certification of advanced technology based safety products and systems to Safety Integrity Level 4 (SIL4);

c. Training and competency development with focus on safety including in areas of advanced signaling and train control systems;

d. Modern trends in Maintenance and diagnostic;

e. Any other area jointly identified by the participants.

Background:

The Ferrovie Dello Stato Italiane Group (FS Group) is an industrial holding managing the Italian Railways sector through its companies focused on railway related businesses, the main ones are: Trenitalia - rail transport Rete Ferroviaria Italiana - railway infrastructure manager, Italferr - engineering company, Italcerifer - notified body certifying railway systems and components. The FS group is fully owned by Government and is under Ministry of Treasury, Italy.

Ministry of Railways have signed MQUs for technical cooperation with the Rail sector with various foreign Governments and National Railways. The identified areas of cooperation include high speed corridors, speed raising of existing routes, development of world class stations, heavy haul operations and modernization of rail infrastructure, etc. The cooperation is achieved through exchange of Information on developments in areas of railways, technology & operations, knowledge sharing, technical visits, training & seminars and workshops in areas of mutual interest.

The MoUs provide a platform for Indian Railways to interact and share the latest developments and knowledge in the railway sector. The MoUs facilitate exchange of technical experts, reports and technical documents, training and seminars/workshops focusing on specific technology areas and other interactions for knowledge sharing.

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Deal with CPPIB energises Phoenix Mills
Apr 06,2017

The announcement was made after market hours yesterday, 5 April 2017.

Meanwhile, the S&P BSE Sensex was down 57.09 points, or 0.19%, to 29,917.15. The S&P BSE Mid-Cap index was down 36.48 points, or 0.26%, to 14,219.07

On the BSE, so far 12,000 shares were traded in the counter, compared with average daily volumes of 28,908 shares in the past one quarter. The stock had hit a high of Rs 438.10 and a low of Rs 423.85 so far during the day.

The stock hit a 52-week high of Rs 445 on 8 September 2016. The stock hit a 52-week low of Rs 285.05 on 15 November 2016. The stock had outperformed the market over the past 30 days till 5 April 2017, rising 10.01% compared with the 3.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 9.85% as against Sensexs 11.52% gain.

The mid-cap company has equity capital of Rs 30.61 crore. Face value per share is Rs 2.

Phoenix Mills and Canada Pension Plan Investment Board (CPPIB) announced participation in a strategic investment platform Island Star Mall Developers (ISMDPL) to develop, own and operate retail-led mixed-use developments across the country. CPPIB will initially own 30% in Island Star Mall with an equity commitment of approximately Rs 724 crore. CPPIB plans to invest a total of approximately Rs 1600 crore in multiple tranches, to own up to 49% stake in the platform. Pre-money enterprise value of ISMDPL is pegged at about Rs 2200 crore.

ISMDPL owns Phoenix MarketCity Bangalore, a mall which opened in 2011, with gross leasable area of 1 million sq. ft. The funds will be used for acquiring and developing both greenfield assets on newly purchased land banks, as well as existing operating retail assets. Phoenix Mills will manage all development and operational assets in ISMDPL.

On a consolidated basis, Phoenix Millss net profit fell 6.86% to Rs 44.54 crore on 11.72% decline in net sales to Rs 436.69 crore in Q3 December 2016 over Q3 December 2015.

Phoenix Mills focuses on real estate development and entertainment.

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Power Grid Corporation of India enters into loan agreement with Asian Development Bank
Apr 06,2017

Power Grid Corporation of India has entered into loan agreement with Asian Development Bank on 05 April 2017 for an amount of USD 225 million (including USD 50 million as Clean Technology Fund) for part of its transmission projects associated with Solar Power Parks.

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Capital First allots NCDs aggregating Rs 500 crore
Apr 06,2017

Capital First announced that the Debenture Committee vide Resolution passed by Circulation on 05 April 2017 has inter - alia approved allotment of 5000 NCDs having Face Value of Rs. 10,00,000 each. The said NCDs shall be listed on National Stock Exchange of India

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Cabinet approves closure of Mahatma Gandhi Pravasi Suraksha Yojana
Apr 06,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved closure of the Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY) which was set up in 2012 to address the social security-related issues of the Emigration Check Required (ECR)-category workers going abroad for employment to ECR countries.

The subscription under the MGPSY was very low and no new subscription was received for more than a year. Closure of the scheme will, therefore, obviate the avoidable recurring administrative and record-keeping expenditure.

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Reliance Defence beefs up after plans to approve rights issue
Apr 06,2017

The announcement was made after market hours yesterday, 5 April 2017.

Meanwhile, the S&P BSE Sensex was down 86.22 points, or 0.29%, to 29,888.02. The S&P BSE Mid-Cap index was down 19.05 points or 0.13% to 14,236.50.

On the BSE, 3.56 lakh shares were traded in the counter so far, compared with average daily volumes of 6.55 lakh shares in the past one quarter. The stock had hit a high of Rs 69.50 and a low of Rs 66.80 so far during the day.

The stock had hit a 52-week high of Rs 72.85 on 1 August 2016. The stock had hit a 52-week low of Rs 48.40 on 22 November 2016. It had outperformed the market over the past one month till 5 April 2017, advancing 11.54% compared with the Sensexs 3.96% rise. The scrip had also outperformed the market over the past one quarter, gaining 20.32% as against the Sensexs 11.52% rise.

The mid-cap company has equity capital of Rs 736.21 crore. Face value per share is Rs 10.

Reliance Defence said that the rights issue was earlier approved at the board meeting held on 22 April 2016.

The companys board will also announce companys Q4 results on 11 April 2017.

Reliance Defence & Engineering reported net loss of Rs 132.71 crore in Q3 December 2016 as against net loss of Rs 293.60 crore in Q3 December 2015. Net sales rose 142.8% to Rs 120.94 crore in Q3 December 2016 over Q3 December 2015.

Reliance Defence and Engineering (RDEL) has a large ship building/repair infrastructure in India. It has one of the largest dry dock in the world.

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Amrapali Fincap announces resignation of company secretary and compliance officer
Apr 06,2017

Amrapali Fincap announced that Chinmay Methiwala has resigned from the post of Company Secretary and Compliance officer of the Company w.e.f. 05 April 2017.

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HDFC Bank grants 1,68,65,850 equity stock options
Apr 06,2017

HDFC Bank has granted 1,68,65,850 equity stock options of the face value of Rs. 2/- (options) each to the eligible employees of the Bank at the grant price of Rs. 1433.20

Under the current Scheme, 7,01,600 options are being granted to Aditya Puri, Managing Director, 3,19,000 options to Paresh Sukthankar, Deputy Managing Director and 2,32,000 options to Kaizad Bharucha, Executive Director, all subject to the approval of the Reserve Bank of India. The options were granted under the Scheme titled ESOS 27 in terms of SEBI (Share Based Employee Benefits) Regulations, 2014.

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Keynote Corporate Services announces change in directorate
Apr 06,2017

Keynote Corporate Services announced that Vineet Suchanti has resigned as Managing Director of the Company with immediate effect. He will continue to be a Non-Executive Director of the Company.

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