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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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L&T Technology Services conferred with Golden Peacock National Quality Award 2017
Apr 03,2017

L&T Technology Services announced that it has been awarded the Golden Peacock National Quality Award, 2017, as a recognition of the companys consistent focus in enabling cutting edge technologies for global businesses.

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Escorts announces tractor sales
Apr 03,2017

Escorts Agri Machinery Segment (EAM) in March 2017 sold 7,079 tractors growth of 31% against 5,403 tractors in March 2016. Domestic tractor sales for the month of March 2017 up by 31.7% at 7,014 tractors against 5,403 tractors in March 2016. Export for the month of March 2017 stood at 65 tractors against 76 tractors in March 2016.

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Shares of Octaware Technologies get listed
Apr 03,2017

The equity shares of Octaware Technologies (Scrip Code: 540416) are listed effective 03 April 2017 and admitted to dealings on the Exchange in the list of M Group Securities

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SML Isuzu advances after robust monthly sales
Apr 03,2017

The announcement was made on Sunday, 1 April 2017.

Meanwhile, the S&P BSE Sensex was up 86.97 points or 0.29% at 29,707.61

On the BSE, 6,409 shares were traded on the counter so far as against the average daily volumes of 5,903 shares in the past one quarter. The stock had hit a high of Rs 1,358 and a low of Rs 1,316 so far during the day. The stock had hit a 52-week high of Rs 1,433.85 on 31 August 2016 and a 52-week low of Rs 769.90 on 1 April 2016.

The small-cap company has equity capital of Rs 14.47 crore. Face value per share is Rs 10.

SML Isuzu reported net profit of Rs 3.15 crore in Q3 December 2016 compared with net loss of Rs 0.93 crore in Q3 December 2015. Net sales rose 18.3% to Rs 228.12 crore in Q3 December 2016 over Q3 December 2015.

SML Isuzu is a commercial vehicle manufacturer. Sumitomo Corporation, Japan and Isuzu Motors, Japan respectively held 43.96% and 15% stake in SML Isuzu (as per the shareholding pattern as on 31 December 2016).

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Dilip Buildcon receives provisional completion certificate for road project in Madhya Pradesh
Apr 03,2017

Dilip Buildcon has received the Provisional Completion Certificate as declaration of Commercial Operation Date (COD), 100 days prior to the Scheduled Completion Date for the Project of Rehabilitation and Up-gradation of existing road to 2 lane with Paved Shoulder as Cement Concrete Pavement configuration Katni-Shahdol-Anuppur to MP/Chhattisgarh Border (NH-78), from existing Km. 142/200 to 245/0 Design Length 91.800 km in the state of Madhya Pradesh on Engineering, Procurement and Construction (EPC) basis.

The Project (details of which are provided herein below) has been declared fit for entry into commercial operations w.e.f. 17 February, 2017 and the Company is entitled to a maximum amount of bonus of Rs.10.20 crore in lieu of earlier completion of the said Project.

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Mizoram becomes 27th State to join UDAY
Apr 03,2017

The Government of India and the State of Mizoram signed a Memorandum of Understanding (MOU) under the scheme Ujwal DISCOM Assurance Yojana (UDAY) for operational improvement of the States Power Distribution Department. With the signing of MoU by Mizoram, the total States/ Union territories covered under UDAY will be 27. Mizoram would derive an overall net benefit of approximately Rs.198 crores by opting to participate in UDAY, by way of cheaper funds, reduction in AT&C and transmission losses, interventions in energy efficiency, etc. during the period of turnaround.

The MoU paves way for improving operational efficiency of the Power Distribution department of the State. Through compulsory Distribution Transformer metering, consumer indexing & GIS mapping of losses, upgrade/change transformers, meters etc., smart metering of high-end consumers, feeder audit etc. AT&C losses and transmission losses would be brought down, besides eliminating the gap between cost of supply of power and realisation. The reduction in AT&C losses and transmission losses to 15% and 2.50% respectively is likely to bring additional revenue of around Rs.166 crores during the period of turnaround.

Demand Side interventions in UDAY such as usage of energy-efficient LED bulbs, agricultural pumps, fans & air-conditioners and efficient industrial equipment through PAT (Perform, Achieve, Trade) would help in reducing peak load, flatten load curve and thus help in reducing energy consumption in the State of Mizoram. The gain is expected to be around Rs.30 crores.

While efforts will be made by the Power Distribution Department of the State to improve their operational efficiency, and thereby reduce the cost of supply of power, the Central government would also provide incentives to the State Government for improving Power infrastructure in the State and for further lowering the cost of power. The Central schemes such as DDUGJY, IPDS, Power Sector Development Fund or such other schemes of MOP and MNRE are already providing funds for improving Power Infrastructure in the State and additional/priority funding would be considered under these schemes, if the State/DISCOMs meet the operational milestones outlined in the scheme. Further, with improved efficiency, the State Power department would be in a better position to borrow funds at cheaper rates for Power infrastructure development/improvement in the State.

The ultimate benefit of signing the MOU would go to the people of Mizoram. Reduced levels of transmission and AT&C losses would mean lesser cost per unit of electricity to consumers. Further, financially and operationally healthy State Power Distribution department would be in a position to supply more power. Higher demand for power would mean higher PLF of Generating units and therefore, lesser cost per unit of electricity which would again mean lesser cost per unit of electricity to the consumers. The scheme would also allow speedy availability of cheaper power to 22,007 households in the State that are still without electricity. Availability of 24*7 power to hitherto unconnected villages/households etc. would boost the economy, provide more employment opportunities for the people of the State and thereby, improve the standard of living of the people of the State.

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MEP Infrastructure Developers provides update on Mahuva Kagavadar Road project
Apr 03,2017

MEP Infrastructure Developers announced that its subsidiary - MEP SANJOSE Mahuva Kagavadar Road has achieved financial closure as per the Concession Agreement executed with NHAI dt. 09 August 2016 for the project of Four Laning of Mahuva to Kagavadar Section in the State of Gujarat on Hybrid Annuity Mode under NHDP Phase IV by tying up of Project finance of Rs.272.11 crore.

The Bid project cost is Rs.604.68 crore out of which Project finance will contribute Rs.272.11 crore & remaining contribution will be funded by grant of Rs.241.87 crore from NHAI and equity contribution of Rs.90.70 crore of the Subsidiary Company.

Key highlights of the Project are -

(1)Construction Period:2.5yrs from the Appointed Date

(2)Concession Period:15yrs (excluding Construction Period: 2.5yrs)

(3)The Company will receive Bi-Annual Annuity from NHAI post COD.

The Company has now achieved financial closure of Six of its HAM Projects which are awarded by the Authority & successfully tied up total project finance of Rs.1726.65 crore towards all Six HAM Projects.

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Maruti accelerates after declaring good sales in March
Apr 03,2017

The announcement was made on Saturday, 1 April 2017.

Meanwhile, the S&P BSE Sensex was up 127.47 points or 0.43% at 29,747.97

On the BSE, 1,872 shares were traded on the counter so far as against the average daily volumes of 65,528 shares in the past one quarter. The stock had hit a high of Rs 6,088 and a low of Rs 6,032.55 so far during the day. The stock had hit a record high of Rs 6,230.30 on 8 February 2017 and a 52-week low of Rs 3,418.80 on 8 April 2016.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

Maruti Suzuki Indias total domestic sales rose 7.7% to 1.27 lakh units in March 2017 over March 2016. Exports grew by 12.6% to 11,764 units in March 2017 over March 2016.

Maruti Suzuki Indias net profit rose 47.46% to Rs 1744.50 crore on 12.44% growth in net sales to Rs 16623.60 crore in Q3 December 2016 over Q3 December 2015.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 December 2016).

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Record Capacity Addition of Wind Power of 5400MW in Last Fiscal
Apr 03,2017

Ministry of New and Renewable Energy (MNRE) has set another record in the wind power capacity addition by adding over 5400 MW in 2016-17 against the target of 4000 MW. This years achievement surpassed the previous higher capacity addition of 3.423 MW achieved in the previous year.

The leading States in the wind power capacity addition during 2016-17 are Andhra Pradesh 2190 MW, followed by Gujarat 1275 MW and Karnataka 882 MW. In addition Madhya Pradesh, Rajasthan, Tamil Nadu, Maharashtra ,Telangana and Kerala have reported 357 MW, 288 MW, 262 MW, 118 MW , 23 MW and 8 MW wind power capacity addition respectively during 2016-17. These figures are tentative.

During 2016-17 MNRE has taken various policy initiatives in the wind energy sector that includes Introduction of Bidding in Wind Energy Sector, Re -powering Policy, Draft Wind-Solar Hybrid Policy, New Guidelines for Development of Wind Power Projects, etc.

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Auto stocks in focus after declaring monthly sales volume data
Apr 03,2017

Maruti Suzuki Indias total sales rose 8.1% to 1.39 lakh units in March 2017 over March 2016. The companys total domestic sales rose 7.7% to 1.27 lakh units in March 2017 over March 2016. Exports grew by 12.6% to 11,764 units in March 2017 over March 2016. The announcement was made on Saturday, 1 April 2017.

Mahindra & Mahindras (M&M) total auto sales rose 6% to 56,031 units in March 2017 over March 2016. M&Ms total tractor sales rose 32% to 19,337 units in March 2017 over March 2016. The announcement was made on Sunday, 1 April 2017.

Tata Motors passenger and commercial vehicle total sales rose 8% to 57,145 vehicles in March 2017 over March 2016. The announcement was made on Saturday, 1 April 2017.

SML Isuzus sales rose 26.4% to 2,094 units in March 2017 over March 2016. The announcement was made on Sunday, 1 April 2017.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after Indian Oil Corporation (IOCL) on Friday, 31 March 2017, announced reduction in selling price of petrol and diesel with effect from midnight of 31 March 2017. Petrol price was decreased by Rs 3.77 per litre and diesel price was reduced by Rs 2.91 a litre at Delhi (excluding state levies).

Indiabulls Housing Finance said that it has on Friday, 31 March 2017, allotted its fourteenth tranche of secured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 37.5 crore. This was part of the companys proposal announced in November 2016, to issue, secured, redeemable, NCDs aggregating Rs 6000 crore, on a private placement basis. The announcement was made after market hours on Friday, 31 March 2017.

Everest Kanto Cylinder has entered into the Asset Purchase Agreement with SNF Flopam India to sell companies land, building and electric installations in Gandhidham, Gujarat for consideration of $29 million. The expected date of completion of sale would be 30 April 2017. The announcement was made after market hours on Friday, 31 March 2017.

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Phoenix Mills announces cessation of subsidiary
Apr 01,2017

Phoenix Mills announced that consequent upon the sale/disposal of the Companys shares in Escort Developers (EDPL) on 31 March 2017, the overall holding of the Company in Classic Mall Development Company (CMDCPL) has reduced to 48.19% as on 31 March 2017. Pursuant to the aforesaid change in the overall holding, CMDCPL has ceased to be the Companys subsidiary and has become an associate company w.e.f. 31 March 2017.

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Huhtamaki PPL provides update on scheme of arrangement
Apr 01,2017

Huhtamaki PPL announced that subsequent to receiving Certified True copy of the NCLT Orders from Honble Mumbai Bench of National Company Law Tribunal (NCLT) sanctioning the Scheme of Arrangement of Positive Packaging Industries and Webtech Labels Private with Huhtamaki PPL, and their respective shareholders and creditors, the Orders have been filed by the respective Companies with the Registrar of Companies and the Mergers has become effective, 01 April 2017.

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Vikas EcoTech intimates of fire accident at Polypropylene manufacturing plant
Apr 01,2017

Vikas EcoTechs newly commissioned Polypropylene manufacturing plant was destroyed in a fire that engulfed this particular section at companys Shahjahanpur manufacturing facility in Rajasthan. The damage was limited to only one building that housed the polypropylene section and a material warehouse. The companys four other manufacturing units situated in the same factory complex are safe and fully operational. No human casualties were reported and all companys employees are safe. The polypropylene unit was expected to contribute around 3% to companys annual sale in FY 2017-18. It would take a minimum of 4 months to restore full production of this unit. According to initial estimates, the total damage to the Factory building, Machinery, WIP, Raw material and Finished goods stock could be around Rs 15-20 crore. The building, machinery and stocks destroyed were fully insured.

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Andhra Bank receives Rs 1100 crore from GoI
Apr 01,2017

Andhra Bank announced that the Government of India has remitted Rs 1100 crore on 31 March 2017 towards contribution of Government of India in the preferential allotment of equity shares of the Bank. The amount will remain in Share Application money till compliance of certain terms.

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Phoenix Mills gets bonus shares allotted by subsidiary - Island Star Mall Developers
Apr 01,2017

Phoenix Mills announced that the Company has been allotted the following shares under bonus issue by its wholly owned subsidiary, Island Star Mall Developers (ISMDPL) on 31 March 2017 -

8,04,92,330 Equity Shares of Face Value Rs 10 each and

30,89,759 Compulsorily Convertible Preference Shares Series A (CCPS) of Face Value Rs. 10 each.

Subsequent to the aforesaid allotment, there is no change in the shareholding of the Company and ISMDPL continues to remain a wholly owned subsidiary of the Company.

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