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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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PSU OMCs consolidate after entering into pact for refinery & petrochemical project
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 365.99 points or 1.39% at 26,602.86.

BPCL (up 0.71%), Indian Oil Corporation (IOCL) (up 0.94%) and HPCL (up 0.97%) gained.

BPCL, Indian Oil Corporation and HPCL have separately informed that they signed a consortium agreement on 7 December 2016 to carry out pre-project activities for setting up of a West Coast Refinery & Petrochemical project of approximately 60 million metric tonne per annum (MMTPA) capacity in Maharashtra through a joint venture company.

BPCL reported 26.2% rise in net profit to Rs 1305.18 crore on 3.4% fall in net sales to Rs 44646.41 crore in Q2 September 2016 over Q2 September 2015.

IOCL reported net profit of Rs 3121.89 crore in Q2 September 2016 compared with net loss of Rs 450.24 crore in Q2 September 2015. Net sales fell 5.1% to Rs 80043.54 crore in Q2 September 2016 over Q2 September 2015.

HPCL reported net profit of Rs 701.32 crore in Q2 September 2016 compared with net loss of Rs 317.13 crore in Q2 September 2015. Net sales was almost unchanged at Rs 42030.64 crore in Q2 September 2016 over Q2 September 2015.

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PSU OMCs gain after entering into pact for refinery & petrochemical project
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 365.99 points or 1.39% at 26,602.86.

BPCL (up 0.71%), Indian Oil Corporation (IOCL) (up 0.94%) and HPCL (up 0.97%) gained.

BPCL, Indian Oil Corporation and HPCL have separately informed that they signed a consortium agreement on 7 December 2016 to carry out pre-project activities for setting up of a West Coast Refinery & Petrochemical project of approximately 60 million metric tonne per annum (MMTPA) capacity in Maharashtra through a joint venture company.

BPCL reported 26.2% rise in net profit to Rs 1305.18 crore on 3.4% fall in net sales to Rs 44646.41 crore in Q2 September 2016 over Q2 September 2015.

IOCL reported net profit of Rs 3121.89 crore in Q2 September 2016 compared with net loss of Rs 450.24 crore in Q2 September 2015. Net sales fell 5.1% to Rs 80043.54 crore in Q2 September 2016 over Q2 September 2015.

HPCL reported net profit of Rs 701.32 crore in Q2 September 2016 compared with net loss of Rs 317.13 crore in Q2 September 2015. Net sales was almost unchanged at Rs 42030.64 crore in Q2 September 2016 over Q2 September 2015.

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Divis Lab declines after USFDA form 483 to Visakhapatnam unit
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 360.65 points or 1.37% at 26,597.52.

On the BSE, 45,000 shares were traded on the counter so far as against the average daily volumes of 49,395 shares in the past one quarter. The stock had hit a high of Rs 1,138.70 and a low of Rs 1,090.55 so far during the day.

The stock had hit a record high of Rs 1,380 on 16 September 2016 and a 52-week low of Rs 918.10 on 29 February 2016. It had underperformed the market over the past one month till 7 December 2016, sliding 8.07% compared with the Sensexs 4.45% fall. The scrip had also underperformed the market in the past one quarter, declining 11.98% as against the Sensexs 9.3% fall.

The large-cap company has equity capital of Rs 53.09 crore. Face value per share is Rs 2.

The US Food and Drug Administration (USFDA) has issued a form 483 with 5 observations to the companys unit-II at Visakhapatnam, Andhra Pradesh. The company will respond to the USFDA letter within the time permitted, it said.

The US health regulator had an inspection of the plant from 29 November to 6 December 2016.

Divis Laboratories net profit fell 24.6% to Rs 223.85 crore on 3.5% growth in net sales to Rs 1003.07 crore in Q2 September 2016 over Q2 September 2015.

Divis Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics, custom synthesis of APIs and advanced intermediates for discovery compounds for pharma giants, building blocks for peptides, building blocks for nucleotides, carotenoids and chiral ligands.

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Cabinet approves MoU between India and Thailand on Cooperation in controlling narcotic drugs and psychotropic substances
Dec 08,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to the MoU between India and Thailand in controlling narcotic drugs, psychotropic substances, their precursors and chemicals and drug abuse.

The MoU is an effective framework to deal with all issues requiring mutual assistance and cooperation in the above areas. It will facilitate effective institutional interaction between India and Thailand. The MoU, once in force, would help in curbing transnational narcotics trafficking.

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Tata Elxsi moves higher on pact with a client
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 353.57 points or 1.35% at 26,590.44.

On the BSE, 29,000 shares were traded on the counter so far as against the average daily volumes of 75,772 shares in the past one quarter. The stock had hit a high of Rs 1,405 and a low of Rs 1,384.50 so far during the day.

The stock had hit a record high of Rs 2,396 on 2 February 2016 and a 52-week low of Rs 1,021.65 on 21 November 2016. It had outperformed the market over the past one month till 7 December 2016, surging 11.86% compared with the Sensexs 4.45% fall. The scrip had, however, underperformed the market in the past one quarter, declining 10.69% as against the Sensexs 9.3% fall.

The mid-cap company has equity capital of Rs 31.14 crore. Face value per share is Rs 10.

Panasonic Corporation announced that it will start the local production of refrigerators and strengthen its R&D functions. It aims to expand its appliances business in India by accelerating the Iocalizing, production and sales activities to develop products that match the local needs.

Keeping in mind the rising demand for valuen++added refrigerators, the new factory will be built at Technopark, Jhajjar, Haryana and will be operational starting November 2017.

Sales from the said factory will commence from April 2018 in India. The company will establish the design division in Bangalore in April 2017 in partnership with Tata Elxsi. Through this division it will develop technologies such as artificial intelligence and robotics applicable to appliance products not only for India but also for Japan and global markets.

Tata Elxsis net profit rose 13.1% to Rs 43.08 crore on 15% growth in net sales to Rs 303.29 crore in Q2 September 2016 over Q2 September 2015.

Tata Elxsi is a global product engineering services provider that works with leading original equipment manufacturers (OEMs) and semiconductor companies across consumer electronics, broadcast, wired and wireless communications and automotive verticals.

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Cabinet approves MoU between India and Vietnam on Cooperation In the field of Information Technology (IT)
Dec 08,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval to the MoU between India and Vietnam on Cooperation in the field of IT.

The MoU aims to develop a long-term and sustainable cooperation on the basis of equality and mutual interest in the areas of IT in line with each countrys laws and regulations. Implementation of the MoU will result in significant mutual benefits in the IT sector, through institutional and capacity-building in the field of IT and Human Resource Development.

The MoU will remain in force for a period of five years and will be renewable by mutual written consent between India and Vietnam. It will be implemented by establishing a Joint Working Group on IT with representatives from both the countries.

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Prestige Estates declines after posting dismal Q2 numbers
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 359.10 points or 1.37% at 26,595.97.

On the BSE, 10,699 shares were traded in the counter so far as against average daily volume of 1.55 lakh shares in the past one quarter. The stock had hit a high of Rs 152.45 and a low of Rs 145 so far during the day. The stock had hit a 52-week low of Rs 129.85 on 17 March 2016. The stock had hit a 52-week high of Rs 224 on 23 September 2016.

The stock had underperformed the market over the past one month till 7 December 2016, falling 18.26% compared with the Sensexs 4.45% fall. The scrip had also underperformed the market in past one quarter, declining 24.91% as against the Sensexs 9.3% fall.

The mid-cap company has equity capital of Rs 375 crore. Face value per share is Rs 10.

Meanwhile, Prestige Estates Projects board of directors approved acquisition of additional stake of 20% in Villaland Developers LLP, a real estate development company, from the existing partners for Rs 20 crore. Subsequent to the acquisition, companys overall stake in Villaland will stand at 80%.

The proposal is being mooted with a view of consolidation of the revenues of Villaland in the company. Villalands turnover stood at Rs 212.35 crore as on 31 March 2016.

Prestige Estates Projects is one of the leading real estate development companies operating in the southern part of the country and more specifically in Bengaluru.

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Cabinet approves MoU between India and Afghanistan on Cooperation in the Peaceful Uses of Outer Space
Dec 08,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval to the MoU between India and Afghanistan on cooperation in the peaceful uses of outer space.

The MoU envisages cooperation between the two countries for application of space technologies in education, agriculture, weather forecasting, telecommunications, rural health, sanitation, urban development, resource mapping navigation, remote sensing and any other areas mutually agreed upon.

The MoU will benefit both countries in the following manner:

1.Development of space sector in Afghanistan;

2.Burnish Indias credentials as a nation with advanced space technology, one that can also assist other countries;

3.Afghanistan will move towards self-reliance in the space sector;

4.Help deepen bilateral ties and mutual understanding and trust between India and Afghanistan;

5.Provide India with a foothold in Afghanistans strategic space and communication sector.

Further, the MoU will boost high-tech jobs in the two countries in both core Science & Technology and R&D fields, and also the field of implementation. With ushering in of the era of mobile and internet-based applications and commerce, better communication and internet connectivity will boost creation of jobs in diverse fields.

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Crompton Greaves slumps on reverse turnaround in Q2
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the BSE Sensex was up 368.02 points, or 1.4%, to 26,604.89.

More than usual volumes were traded on the counter. On the BSE, 16.14 lakh shares were traded in the counter so far, compared with average daily volume of 5.74 lakh shares in the past one quarter. The stock had hit a high of Rs 63.50 and a low of Rs 60.05 so far during the day. The stock had hit a 52-week high of Rs 88.65 on 18 August 2016. The stock had hit a 52-week low of Rs 38.79 on 12 February 2016.

The stock had underperformed the market over the past one month till 7 December 2016, falling 23.25% compared with the Sensexs 4.45% fall. The scrip had also underperformed the market in past one quarter, declining 21.18% as against the Sensexs 9.3% fall.

The mid-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.

Crompton Greaves total income rose 6.78% to Rs 1545.19 crore in Q2 September 2016 over Q2 September 2015.

Separately, Crompton Greaves announced that certain conditions precedents to the share purchase agreement (SPA) executed earlier this December by the company along with its subsidiaries, CG International BV and CG International Holdings Singapore PTE with Pauwels Spaco a special purpose vehicle of First Reserve for sale of its power business in Europe, North America and Indonesia continue to remain unfulfilled and the fulfilment of it is beyond the reasonable control of the parties in the multi-geography/product line international business of the company.

After review of the situation, the parties to the sale, have decided not to further pursue the completion and the SPA consequently stands terminated. The company, however, will continue to explore alternative geography/product wise options for sale of its international power business, while continuing the strategic initiatives for improving overall operational efficiency of the international power business.

The company continues to progress with sale of the B2B automation business in Spain, UK, Ireland, France and India at an enterprise value of Euro 120 million as communicated on 7 November 2016 and towards this has made successful progress towards completion. This will ensure reduction in debt of the company and improve the companys balance sheet, it added.

Crompton Greaves is engaged in the business of power and industrial systems.

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Gujarat Ambuja Exports jumps on buyback proposal
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 379.10 points or 1.44% at 26,615.97.

On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 59,617 shares in the past one quarter. The stock had hit a high of Rs 92.65 and a low of Rs 87 so far during the day.

The stock had hit a 52-week high of Rs 103 on 10 November 2016 and a 52-week low of Rs 35.50 on 26 February 2016. It had underperformed the market over the past one month till 7 December 2016, sliding 10.02% compared with the Sensexs 4.45% fall. The scrip had, however, outperformed the market in the past one quarter, declining 0.93% as against the Sensexs 9.3% fall.

The small-cap company has equity capital of Rs 27.67 crore. Face value per share is Rs 2.

Gujarat Ambuja Exports net profit surged 125.3% to Rs 29.83 crore on 8.9% decline in net sales to Rs 629.04 crore in Q2 September 2016 over Q2 September 2015.

Gujarat Ambuja Exports is principally involved in agro-processing and has focus on exports, competing in the global market.

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Tata Steel hardens after its UK unit reaches agreement with trade unions
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 308.26 points or 1.17% at 26,544.96.

On the BSE, 1.8 lakh shares were traded in the counter so far as against average daily volume of 8.85 lakh shares in the past one quarter. The stock had hit a high of Rs 425.20 and a low of Rs 416.10 so far during the day. The stock had hit a 52-week high of Rs 440.90 on 11 November 2016. The stock had hit a 52-week low of Rs 211.30 on 12 February 2016.

The stock had outperformed the market over the past one month till 7 December 2016, gaining 0.24% compared with the Sensexs 4.45% fall. The scrip had also outperformed the market in past one quarter, advancing 5.78% as against the Sensexs 9.3% fall.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steel UK yesterday, 7 December 2016, reached an agreement with trade unions on a number of proposals that would structurally reduce risks and help secure a more sustainable future for its UK business.

The company will next week start consultation with its employees on a proposal to close the British Steel pension scheme to future accrual. Employees would be offered a competitive defined contribution scheme.

The proposal on pensions and other changes in the employment terms are part of the ongoing transformation plan that the business is undertaking. As part of agreement all parties will work towards making Tata Steel UK a sustainable business.

The company and trade unions have also agreed on the principle that subject to the structural de-risking and de-linking of the British Steel Pension Scheme fund from the business, Tata Steel UK will continue the existing blast furnace configuration in Port Talbot until 2021.

Further, based on achieving the necessary financial performance and cash flows as per the transformation plan of the UK business, the company will continue to invest across the UK sites to enhance the competitive position of Tata Steel UK in the European steel industry.

The company has also offered an employment pact until 2021 which supports employees through future changes by investing in their skills to support further plant upgrades, automation and other digital initiatives.

Tata Steel is the UKs largest steel manufacturer. It supplies almost 50% of UK carmakers steel requirements, including body panels and chassis, and a range of advanced steels for the UK construction industry which help to reduce buildings energy use.

Separately, Tata Steel announced that its subsidiary, TM International Logistics (TMILL) has divested entire stake in its wholly owned step down subsidiary TM Harbour Services (TMHSPL) to Adani Ports and Special Economic Zone (APSEZ) for a total consideration of Rs 106 crore in an all cash deal.

TKM Global GmbH, Germany and International Shipping and Logistics FZE, Dubai, subsidiaries of TMILL, hold 74.18% and 25.82% equity shares in TMHSPL respectively. TMHSPL with an annual turnover of about Rs 29 crore is engaged in the business of providing tug services at Dhamra Port and owns 3 tug boats.

Incorporated in 2002, TMILL is a joint venture company of Tata Steel, NYK Holding (Europe) BV and IQ Martrade. Headquartered in Kolkata, the company currently operates from its offices across various cities in India and overseas offices in Dubai, Germany, UK and China. TMILL offers logistics solutions. TMILL recorded an annual revenue of Rs 563 crore in FY 2016.

Shares of APSEZ rose 2.09% to Rs 282.90.

On a consolidated basis, Tata Steel reported net loss of Rs 49.38 crore in Q2 September 2016, compared with net profit of Rs 5609.43 crore in Q2 September 2015. Net sales rose 0.1% to Rs 26291.86 crore in Q2 September 2016 over Q2 September 2015.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers.

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Indusind Bank advances after fund raising plans
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 243.30 points or 0.93% at 26,480.17.

On the BSE, 1,426 shares were traded on the counter so far as against the average daily volumes of 62,699 shares in the past one quarter. The stock had hit a high of Rs 1,092.80 and a low of Rs 1,085 so far during the day.

Indusind Bank announced that its board of directors yesterday, 7 December 2016, passed issuance of senior, unsecured, redeemable, non-convertible, long term bonds in the nature of debentures of face value of Rs 10 lakh each aggregating Rs 1500 crore on private placement basis.

IndusInd Banks net profit rose 25.8% to Rs 704.26 crore on 24% growth in total income to Rs 4439.72 crore in Q2 September 2016 over Q2 September 2015.

IndusInd Bank is a leading private sector bank in India.

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Cabinet approves the proposal of Election Commission for procurement of Control Units and Ballot Units during 2017-18 and 2018-19
Dec 08,2016

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved the proposal of Election Commission for purchase of 4,10,000 Ballot Units (BUs) and 3,14,000 Control Units (CUs) during 2017-18 and 4,35,306 Ballot Units and 71,716 control units during 2018-19 at a tentative unit cost of Rs.7,700/- and Rs.9,300 respectively. The total estimated cost will be Rs.1,009.6 crore. The purchases will be made through Bharat Electronic (BEL), Bangalore and Electronics Corporation of India (ECIL), Hyderabad.

The Cabinet has also authorised the Election Commission to vary the quantity to be ordered on M/s. BEL and M/s. ECIL based on their production capacity and past performance in supply of machines.

This would facilitate phasing out of obsolete electronic voting machines procured during 2000-2005. It will enable the Election Commission to replenish the stock with a view to meeting the requirement of conducting General Elections to Lok Sabha and some of the State Assemblies due in 2019. Authorising the Election Commission to vary to the quantity would ensure better management of the procurement process and timely delivery of the units.

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NMDC announces appointment of Chairman and MD
Dec 08,2016

NMDC announced that in terms of order dated 07 December 2016 of Ministry of Steel, Government of India, the additional charge of the post of Chairman and Managing Director, NMDC is assigned to R Sridharan, Special Secretary, Ministry of Mines, till a regular incumbent is appointed or until further orders, whichever is earlier.

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PNC Infratech announces resignation of nominee director
Dec 08,2016

PNC Infratech announced Sunil Chawla, Nominee Director has resigned from the Board of Directors of the Company with effect from 08 December 2016.

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