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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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JMC Projects (India) spurts after winning new orders
Dec 29,2016

The announcement was made after market hours yesterday, 28 December 2016.

Meanwhile, the BSE Sensex was up 14.42 points, or 0.06%, to 26,225.10.

On the BSE, so far 48,000 shares were traded in the counter, compared with average daily volumes of 5,287 shares in the past one quarter. The stock had hit a high of Rs 240 and a low of Rs 226.50 so far during the day.

The stock hit a 52-week high of Rs 288 on 25 July 2016. The stock hit a 52-week low of Rs 175 on 29 February 2016. The stock had outperformed the market over the past 30 days till 28 December 2016, rising 1% compared with the 0.69% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 11.35% as against Sensexs 5.81% decline.

The small-cap civil engineering and engineering, procurement and construction (EPC) company has equity capital of Rs 33.58 crore. Face value per share is Rs 10.

JMC Projects (India) (JMC) won shipyard modernisation project in Goa worth approximately Rs 454 crore; a flyover project in Maharashtra worth approximately Rs 446 crore; a commercial project in Hyderabad worth approximately Rs 282 crore; a residential project in Bangalore worth approximately Rs 224 crore; and an educational building project in Arnravati (Andhra Pradesh) worth Rs 51 crore.

Net profit of JMC Projects (India) declined 8.9% to Rs 12.05 on 10.3 decline in net sales to Rs 530.87 crore in Q2 September 2016 opver Q2 September 2015.

JMC Projects (India) is one of the leading civil EPC company.

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MF Utilities powered by Intellect wins Banking Technology Award 2016
Dec 29,2016

Intellect Design Arena announced that MF Utilities has won the Banking Technology Award 2016 in the Best Industry Infrastructure Initiative Category. MF Utilities has recognised the effort of Intellect in providing the distribution software solution in its objective to bring in efficiency and cost effectiveness in the Indian Mutual Fund Industry. The award was presented at an event in London.

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Board of Mandhana Industries appoints directors
Dec 29,2016

Mandhana Industries announced that the Board of Directors of the Company at its meeting held on 28 December 2016 has approved the appointment of Jeenendra Bhandari, Chandrakant Shetty and Pandharinath Parab as Additional Directors (Non Executive and Independent Directors) of the Company.

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Goa Carbon resumes operations at Bilaspur Plant
Dec 29,2016

Goa Carbon announced that the operations at the Companys Bilaspur Plant located at 34-40, Sector B, Sirgitti Industrial Area, Bilaspur, Chhattisgarh have commenced from 27 December 2016.

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Phoenix Mills acquire balance stake holding in subsidiary - Island Star Mall Developers
Dec 29,2016

Phoenix Mills announced that Island Star Mall Developers (ISMDPL) is a wholly owned subsidiary of the Company wherein the Company is directly holding 91.28% shareholding and remaining 8.72% equity shareholding is held by Pinnacle Real Estate Development (PREDPL), another wholly owned subsidiary of the Company.

In accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has acquired 8.72% equity stake in ISMDPL from PREDPL on 28 December 2016.

Subsequent to the aforesaid acquisition, the direct equity stake of the Company in ISMDPL has increased from 91.28% to 100% and ISMDPL continues to remain a wholly owned subsidiary of the Company.

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Pratibha Industries spurts on plan to allot shares to lenders
Dec 29,2016

The announcement was made after market hours yesterday, 28 December 2016.

Meanwhile, the BSE Sensex was up 20.62 points, or 0.08%, to 26,231.30.

On the BSE, so far 1.27 lakh shares were traded in the counter, compared with average daily volumes of 2.48 lakh shares in the past one quarter. The stock had hit a high of Rs 13.55 and a low of Rs 12.20 so far during the day.

The stock hit a 52-week high of Rs 48.95 on 6 January 2016. The stock hit a 52-week low of Rs 9.85 on 24 November 2016. The stock had underperformed the market over the past 30 days till 28 December 2016, falling 10.84% compared with the 0.69% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 32.87% as against Sensexs 5.81% decline.

The small-cap company has equity capital of Rs 20.21 crore. Face value per share is Rs 2.

Pratibha Industries announced that a meeting of the board of directors of the company shall be held on 4 January 2017, inter-alia, to consider and approve, the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.

On a consolidated basis, Pratibha Industries reported net loss of Rs 71.36 crore in Q2 September 2016 as against net profit of Rs 11.71 crore in Q2 September 2015. Net sales declined 62.10% to Rs 328.32 crore in Q2 September 2016 over Q2 September 2015.

Pratibha Industries is engaged in the business of integrated infrastructure solutions.

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Take digital era to in flights; ASSOCHAM seeks PM nod
Dec 29,2016

In an era of digital push, the ASSOCHAM has approached the Prime Minister Mr Narendra Modi and other concerned senior ministers to permit satellite -based In Flight Connectivity (IFC) in the aircraft flying over the Indian air space, both for the domestic and foreign airlines.

n++IFC promises to substantially improve safety of airlines as it enables flight tracking in respect of aircraft in near real time reporting latitude, longitude, altitude, true heading and ground speed; Streaming of flight data recorder off the aircraft in real time; and Facilitating real time intervention for safety and security based on flight data monitoring,n++ the chamber said in a similar letter to the Prime Minister, Home Minister Mr Rajnath Singh, Civil Aviation Minister Mr Ashok Gajapati Raju and the Communication Minister Mr Manoj Sinha.

The ASSOCHAM letter said besides increased safety, the IFC would enable the passengers to stay connected and make use of several services. n++Aviation is facing a technological revolution. As aircraft becomes smart, fully connected machine, new services can be introduced to benefit the passenger experience, grow revenue for operators and improve safety. All this relies on stable and safe connectivity - from the cabin to the cockpit. IFC can in fact cover both cabin service provision to the passengers and cockpit safety and security services, such as flight trackingn++, it said.

Customer surveys clearly bring out that travellers expect to stay connected via their smart devices and laptops even while flying. Vast majority of them wants IFC and in fact choose an airline based on broadband availability. A number of airlines (72 airlines by the end of 2015) have already installed or announced plans to install passenger connectivity system on board and the number of connected commercial aircraft is increasing rapidly - thanks to the satellite high speed internet.

A large number of countries and airlines have already operationalised the in-flight connectivity. Even Sri Lanka, Pakistan, Bangladesh and Nepal have permitted IFC in planes over- flying their territory while India is yet to take any decision. n++As a result each time an aircraft equipped with IFC enters Indian air space, it is forced to switch off the service to the passengers till it passes the Indian skies, causing hardship to the passengersn++, the chamber letter signed by its Secretary General Mr D S Rawat said.

It said the IFC is imperative for businessmen or other individuals to stay connected but its absence in the Indian territory which consumes on an average two hours of a journey, disrupts the communication n++ Earlier India permits the IFC, the better both for the air passengers as also for Indias image as a progressive country. IFC also enables digital payment in the aircraft while in the air and eliminates the need of cash.

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RIL inches up after commissioning new Paraxylene plant at Jamnagar
Dec 29,2016

The announcement was made after market hours yesterday, 28 December 2016.

Meanwhile, the S&P BSE Sensex was up 50.34 points or 0.19% at 26,261.02.

On the BSE, 5,601 shares were traded on the counter so far as against the average daily volumes of 3.13 lakh shares in the past one quarter. The stock had hit a high of Rs 1,056.85 and a low of Rs 1,050 so far during the day.

The stock had hit a 52-week high of Rs 1,128.90 on 26 September 2016 and a 52-week low of Rs 888.50 on 12 February 2016. It had outperformed the market over the past one month till 28 December 2016, advancing 6.67% compared with the Sensexs 0.53% fall. The scrip had also outperformed the market in past one quarter, sliding 3.44% as against the Sensexs 7.36% fall.

The large-cap company has equity capital of Rs 3243.59 crore. Face value per share is Rs 10.

The plant with capacity of 2.2 million metric tonnes per annum (MMTPA) is built with state-of-the-art crystallization technology from BP which is highly energy efficient and environment friendly. With the commissioning of this plant, RlLs Para-xylene (PX) capacity will more than double from 2 MMTPA to 4.2 MMTPA. On commissioning of entire PX capacity, RIL will be the worlds second largest PX producer with 9% of global PX capacity and 11% share of global production.

The new PX capacity will add value to the output from refineries and improve the profitability of the Jamnagar complex. PX is the building block for the entire polyester chain. The new capacity will complete the integration within RILs polyester value chain, leading to improved margins and also strengthen its position in polyester industry globally.

Mukesh D. Ambani, Chairman and Managing Director, RIL, said the commissioning of the new PX plant marks beginning of the culmination of a series of projects including the refinery off-gas cracker, ethane import project and petcoke gasification. These projects are part of the largest contemporary investment, in excess of Rs 1 lakh crore, in Refining and Petrochemicals sector anywhere in the world. RILs projects are on schedule and at an advanced stage of mechanical completion. The new PX capacity takes RIL a step closer to being among the top 10 petrochemical players globally, Ambani said.

Reliance Industries consolidated net profit fell 22.9% to Rs 7206 crore on 8.3% increase in net sales to Rs 76161 crore in Q2 September 2016 over Q2 September 2015.

RIL is a diversified firm having presence in oil exploration, petrochemicals, retail and telecom sectors.

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Reliance Industries commissions 1st phase of Para-xylene (PX) plant
Dec 29,2016

Reliance Industries has commissioned the first phase of Para-xylene (PX) plant at Jamnagar, Gujarat.

The plant with capacity of 2.2 MMTPA is built with state-of-the-art crystallisation technology from BP which is high energy efficient and environment friendly. With the commissioning of this plant, the Companys PX capacity will more than double from 2.0 MMTPA to 4.2 MMTPA. On commissioning of entire PX capacity, Reliance will be the worlds second largest PX producer with 9% of global PX capacity and 11% share of global production.

The new PX capacity will add value to the output from refiners and improve the profitability of the Jamnagar Complex. PX is the building block for the entire polyester chain. The new capacity will complete the integration within Reliances polyester value chain, leading to improved margins and also strengthen its position in polyester industry globally.

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Lakshmi Vilas Bank to consider QIP closure and issue price
Dec 29,2016

Lakshmi Vilas Bank announced that a meeting of the Committee of Directors for Capital Raising of the Bank (the n++Committeen++) will be held on 31 December 2016 to inter alia consider the following resolutions:

a. To approve the closure of the QIP;

b. To approve the issue price including a discount, if any thereto as permitted under the SEBI ICDR Regulations for the Equity Shares to be allotted to qualified institutional buyers pursuant to the QIP; and

c. To approve and adopt the placement document in connection with the QIP.

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RIL in spotlight after commissioning new Paraxylene plant at Jamnagar
Dec 29,2016

Reliance Industries (RIL) announced the successful commissioning of the first phase of Para-xylene (PX) plant at Jamnagar, Gujarat. The announcement was made after market hours yesterday, 28 December 2016.

The plant with capacity of 2.2 million metric tonnes per annum (MMTPA) is built with state-of-the-art crystallization technology from BP which is highly energy efficient and environment friendly. With the commissioning of this plant, RlLs PX capacity will more than double from 2 MMTPA to 4.2 MMTPA. On commissioning of entire PX capacity, RIL will be the worlds second largest PX producer with 9% of global PX capacity and 11% share of global production.

The new PX capacity will add value to the output from refineries and improve the profitability of the Jamnagar complex. PX is the building block for the entire polyester chain. The new capacity will complete the integration within RILs polyester value chain, leading to improved margins and also strengthen its position in polyester industry globally.

Mukesh D. Ambani, Chairman and Managing Director, RIL, said the commissioning of the new PX plant marks beginning of the culmination of a series of projects including the refinery off-gas cracker, ethane import project and petcoke gasification. These projects are part of the largest contemporary investment, in excess of Rs 1 lakh crore, in Refining and Petrochemicals sector anywhere in the world. RILs projects are on schedule and at an advanced stage of mechanical completion. The new PX capacity takes RIL a step closer to being among the top 10 petrochemical players globally, Ambani said.

Goa Carbon announced that the operations at the companys Bilaspur plant in Chhattisgarh had commenced from 27 December 2016. The company had earlier announced the temporary shut-down of this plant. The announcement was made after market hours yesterday, 28 December 2016.

Pratibha Industries announced that a meeting of the board of directors of the company shall be held on 4 January 2017, inter-alia, to consider and approve, the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme. The announcement was made after market hours yesterday, 28 December 2016.

JMC Projects (India) announced that it has secured new orders worth over Rs 1457 crore. The announcement was made after market hours yesterday, 28 December 2016.

Vindhya Telelinks announced that the next board meeting of the company is scheduled to be held on 3 January 2017, to consider and approve proposal for issuance of bonds/redeemable non-convertible debentures (NCDs)/other debt securities on private placement basis, in one or more tranches, aggregating upto Rs 150 crore subject to approval of shareholders through postal ballot. The announcement was made after market hours yesterday, 28 December 2016.

Dilip Buildcon (DBL) announced that the India Rating & Research (Ind-Ra) has upgraded the companys long term issuer rating and the long term rating on its bank facilities to IND A from IND A- while resolving the rating watch positive (RWP). The outlook is stable. The agency has also upgraded the short term rating on DBLs bank facilities to IND A1 from INDA2+. The announcement was made after market hours yesterday, 28 December 2016.

Kuantum Papers announced that Credit Analysis & Research (CARE) has reviewed credit ratings for the companys fixed deposits, long term and short term bank facilities and has upgraded the external rating to CARE BBB+; stable for long term bank facilities, CARE A2 for short term bank facilites and CARE BBB+ (FD); stable for fixed deposits. The announcement was made after market hours yesterday, 28 December 2016.

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Pratibha Industries to consider allotment of shares under SDR
Dec 28,2016

Pratibha Industries announced that a Meeting of the Board of Directors of the Company shall be held on 04 January 2017, inter-alia, to consider and approve, the issue and allotment of shares on preferential basis to the Lenders of the Company under Strategic Debt Restructuring (SDR) scheme for which approval of the members of the Company have already been taken vide Special Resolution passed through postal ballot concluded on 05 November 2016.

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JMC Projects (India) secures new orders
Dec 28,2016

JMC Projects (India) announced that the Company has secured new orders worth Rs 1457 crore as follows -

Shipyard modernisation project in Goa worth Rs 454 crore; flyover project in Maharashtra worth Rs 446 crore; commercial project in Hyderabad worth Rs 282 crore; residential project in Bangalore worth Rs 224 crore; and educational building project in Amravati (Andhra Pradesh) worth Rs 51 crore.

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Sastasundar Ventures to consider merger of subsidiaries
Dec 28,2016

Sastasundar Ventures announced that a meeting of the Board of Directors of the Company will be held on 05 January 2017 to inter-alia consider, discuss and approve the following matters:

1. Approve the Postal Ballot Notice.

2. The proposed merger of certain subsidiary companies with the Company.

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Cadila Healthcare provides update on subsidiary - Zydus Healthcare
Dec 28,2016

Cadila Healthcare announced that its subsidiary, Zydus Healthcare has acquired six brands from MSD and its subsidiaries. The brands are DECA-DURABOLIN, DURABOLIN, SUSTANON, MULTILOAD, SICASTAT and AXETEN range, which fall in the mens health, womens health, wound management and cardiovascular therapy segments respectively.

The deal includes transfer of distribution and commercialisation rights and assignment of trademarks of all the six brands to Zydus Healthcare in India. As part of the deal, Oregaon (India), one of the legal subsidiaries through which MSD operates its business in India has also transferred the distribution and commercialisation rights through DECA-DUROBOLIN and DURABOLIN to Zydus for Nepal.

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